GBP/CHF: Our Expectations: After the mid-termed long movement, the price made a correction to horizontal support around 1.2900 and will possibly stop there. Price Action signal shows us that the price opened with gap, however filled it to the levels of horizontal support. Fibo levels are 23.6%. The price is just above 50 SMA, which plays the role of a dynamic support.
Alternative scenario: If the price goes under the horizontal support below 1.28500, this movement might be denied.
Commentary: Price Action - Filled gap on horizontal support levels - possible long signal
DEM(14) - in over-sold zones, reversing for long
50SMA/200SMA in bullish formation, confirming this forecast
Senan Fuchedzhiev - Trader
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