GBP/CHF, H4 | Potential bounce from major support?
March 2, 2023 3:24 pm
Price is testing a key support level at 1.1246 which is an overlap support along with a 38.2% Fibonacci retracement . A bounce from here could see prices rise up to the next resistance level at 1.1356 which is a strong overlap resistance.
In terms of stop loss, we’re eyeing 1.1192 which is below a recent market movement – this gives a healthy R:R of about 1:2.
The material has been provided by InstaForex Company – www.instaforex.com
Price is testing a key support level at 1.1246 which is an overlap support along with a 38.2% Fibonacci retracement . A bounce from here could see prices rise up to the next resistance level at 1.1356 which is a strong overlap resistance.
In terms of stop loss, we’re eyeing 1.1192 which is below a recent market movement – this gives a healthy R:R of about 1:2.
The material has been provided by InstaForex Company – www.instaforex.com
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