GBPCHF facing bearish pressure | 11th June 2021
Price is facing bearish pressure as it continues to hold under the descending trendline resistance, and Stochastics is also showing signs of bearish pressure as it is approaching the resistance level where it has reacted off of before, in line with our analysis. A break and close below Sell Entry level, in line with 50% Fibonacci retracement , 100% Fibonacci extension and horizontal pullback support, could see price swing towards Take Profit, in line with 78.6% Fibonacci extension and horizontal swing low support.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
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