The GBP/CHF pair has continued to display a persistent bearish bias, with recent closes falling below the crucial resistance level at 1.1515. Additionally, it has formed an additional barrier at the 1.1295 level, and its latest reading indicates a descent to the 1.1085 level.
It’s noteworthy that the stochastic indicator has been oscillating near the 20 level, suggesting the possibility of further negative momentum. This development is likely to bolster the bearish trajectory, with an anticipated descent to 1.0980 forming the initial target for the current trading period. A breach of this level could extend the losses towards 1.0903, serving as a new support against bearish attempts.
Today’s expected trading range is estimated to span between 1.1210 as support and 1.100 as resistance. Market participants should closely monitor the GBP/CHF pair, considering the ongoing bearish trend in their trading strategies.
Traders and investors should remain vigilant and make informed decisions based on key support and resistance levels.