GBPCHF Testing Key Support, Potential Bullish Reversal

Price tested final key support back in September, where price rejected a breakout from the long term trend. Thus, price reverses to the upside, touching of the resistance level . However, price fell sharply last week amid risk aversions and corrections in the global equity market. Now price is heading to a support level .

GBPCHF Testing Key Support, Potential Bullish Reversal by EmpowerTrader

Trade Step-ups:

Bullish Reversal: Price rejects a move lower to test the final support level . Look for a move to the topside, where price test previous resistance level . Profit levels to look for are 1.3150 and 1.3700.

Bearish Breakout: Price breaks current support level , look for consolidation below 1.2550.

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