The GBP/CHF currency pair has experienced a series of bearish closures, influenced by the persistent resistance at 1.1590. This resistance level is further substantiated by the proximity of the MA55, as indicated on the chart. Recent price movement has approached the 1.1085 level, seeking to capitalize on the downward pressure to increase the likelihood of breaching the additional support around 1.1010. This move may pave the way for targeting further bearish milestones, starting at 1.0895 and potentially extending down to 1.0650.
Furthermore, the level at 1.1280 continues to serve as a formidable barrier. The stochastic indicator is trending towards oversold territory, providing additional support for our bearish outlook. We will remain vigilant for the realization of the previously suggested negative targets.
Today’s expected trading range falls between 1.1200 and 1.1020.
Anticipated trend for today: Bearish