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24.05.201810:50 Forex Analysis & Reviews: GBP/CHF analysis for May 24, 2018

Long-term review

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Recently, the GBP/CHF pair has been trading upwards. The price tested the level of 1.3314. According to the H1 time – frame, I found a broken bullish flag in the background, which is a sign that selling looks risky. My advice is to watch for a pullback and then try to buy. I placed Fibonacci expansion to find potential upward targets. I found Fibonacci expansion 61.8% at the price of 1.3337 and Fibonacci expansion 100% at the price of 1.3385.

Resistance levels: R1: 1.3361R2: 1.3428R3: 1.3520Support levels:S1: 1.3203S2: 1.3112S3: 1.3045

Trading recommendations for today: watch for potential buying opportunities.

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