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GBPCHF: Potential Reversal from Resistance Zone

Oleh DanieIM
The market is currently approaching a significant resistance zone, highlighted by multiple previous rejections. The current structure suggests a potential bounce from this area, followed by a move lower. This zone has proven to be a strong barrier in the past, and the overall market context supports a bearish scenario. My target for this setup is around 1.12785. However, I will remain cautious and monitor for any changes in volume or structure that could invalidate this idea.
patternrangetradingsupply_and_demandSupply and Demandsupport_and_resistanceSupport and ResistancesupportandresistancezonesTrend Analysis
DanieIM

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