FX.co ★ ivory29 | GBP/CHF

Hello traders, There is a setup for further growth in the GBPCHF pair, perhaps it would be more accurate to say "the beginning of an upward movement." However, the price is still moving within a narrow range, showing a lack of activity. In terms of buying, buyers can expect GBPCHF to rise initially towards 1.0770-1.0780. If the price consolidates above this level, buyers will be able to push towards 1.0800 and 1.0820. Once the 1.0820 level is surpassed, bulls will have a chance to continue the upward movement towards 1.0835 and 1.0870. A more significant target for buyers is at the level of 1.0935; after consolidating above this level, a full-fledged growth confirmation will be achieved, indicating a chance to push the GBPCHF price towards more distant targets. On the downside, there is nothing particularly attractive or interesting. In the near future, if sellers manage to regain control, a potential decline towards 1.0710-1.0685 is possible. If the price consolidates below these levels, a further decline towards 1.0610-1.0600 may occur. In that case, it would be a good opportunity to buy from the lows.