GBPCHF 161.8% Rejection...BEARISH Outlook!!!
Last Friday's candle showed us a clean rejection off the 161.8% fib level. However, we have yet to see any form of confirming candle. Today's candle is a neutral candle for us as we managed to see a lower opening but BULLISH movement today. Although there is not much confirmation on this pair, I will be eyeing on a fakeout from 1.2323 resistance level. Today's neutral candle might also signifies that a fakeout is valid as we did not managed to see a clear breakout to the upside. As of now, I am leaning towards a BEARISH retracement for this pair.
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