The GBPCHF ended the bullish corrective rebound by providing new close below the minor bearish channel’s resistance at 1.0620, forming sharp decline and its stability near 1.0515, confirming the stability of the previously suggested bearish scenario.

 

Note that the beginning of providing extra negative momentum by stochastic reaching below 50 level will increase the chances of resuming the negative attack, to keep waiting for targeting 1.0475 level reaching 161.8%Fibonacci extension level at 1.0455, to face the support of the bearish channel as appears in the above image.

 

The expected trading range for today is between 1.0560 and 1.0475

 

Trend forecast: Bearish