During yesterday’s session on the GBPCHF a new, higher peak was established, which could indicate the potential for continuation of growth. However, as can be seen on the daily chart below, the price closed the session under resistance at 1.2723, and this looks like a false breakout. In turn, during today’s session, the resistance mentioned above was again tested, which attracted the sellers. Considering yesterday’s false breakout, it may turn out that sellers will now push the ratings back to support at 1.2610. The next goal after breaking the support at 1.2610 may be the local defence level located near 1.2550, and then the key zone within 1.2470. An alternative scenario assumes another resistance test at 1.2723.
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