GBPCHF has been down-trending on the daily chart by obeying a down-trending trend line. The price is having an upward correction, and it has come close to the resistance level of the Trend line. The daily traders are to wait to find out GBPCHF’s next direction.
If the price makes a resistance breakout, the buyers are going to go long on the pair. On the other hand, if the price is held by the Trend line and it produces a bearish daily reversal candle, the price will keep being bearish. Let us have a poll on this.
Scenario 1: The price is going to be held by the Trend line, and it will head towards the South.
Scenario 2: The price is going to breach the Trend line, and it will head towards the North.