GBPCHF broke yesterday uptrend line drawn from this year’s lows. It is currently on support which provides level of 1.2390.
If at this point occurs reflection, there is a significant probability that price returns to area of resistance in vicinity 1.2490, which intersects the broken trend line. Bears signal at this point would be a good opportunity for short-term play on declines. Alternatively, a break of support at 1.2390 will open way to a significant level, which is much lower, because at 1.2345.
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