GBPCHF - The return of the Pound?

Nov 5, 2020

After several strong support levels being held on several GBP pairs, GBP/CHF is a perfect example of that. A strong support level being touched after the march lockdown, which was then later again retested and respected. Im looking at the positive channel movement on GBPCHF, and looking for a long term position also. TP1 is a point to move SL to breakeven as there is a big point of consolidation there, so I can imagine if it breaks that we will see continual movement. TP2 is the previous high on the 4H chart which I imagine will take about a week to hit if so.

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