The GBP/CHF currency pair has concluded its corrective bullish rally after encountering resistance at the 1.1340 level. This key barrier has prompted a downturn, bringing prices down to 1.1275.
Currently, a lack of negative momentum, due to conflicting signals from major indicators, may result in continued sideways trading as the market gathers strength for a potential downward movement. The initial target for this negative shift is set at 1.1230, with a subsequent focus on the 50% Fibonacci correction level at 1.1180.
Traders should anticipate a trading range today between 1.1230 and 1.1320.
Trend Forecast: Bearish
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