The GBPCHF affected by stochastic rally to the overbought level, forming some bullish correctional waves, recording 1.1015 level, but the main stability within the bearish channel’s levels, which represents 1.1055 level for the extension of the extra main resistance for the stability of the moving average 55 above the current trading, these factors makes us wait for preferring the bearish bias domination, which might target 1.0975 and 1.0955.

 

Note that the price rally above the bearish channel’s resistance and provides a positive close, will confirm its move to the bullish track, to begin targeting several positive stations by reaching 1.1095 initially.

 

The expected trading range for today is between 1.0955 and 1.1040

 

Trend forecast: Bearish