GBPCHF BEARISH FOR 80 PIPSTechnical Analysis Factors:
Support Level: The pair may have reached a strong support level where buyers saw value, creating a demand zone that halted the downtrend. Look at previous price action and identify historical support levels where price has rebounded in the past.
Oversold Conditions: Indicators like the RSI or Stochastic Oscillator could indicate oversold conditions, prompting buyers to step in as prices are deemed undervalued.
Fibonacci Retracement: If this is a pullback within a larger trend, an 80-pip bounce might align with Fibonacci levels (like 38.2% or 50%) from a prior move.
