GBPCHF reversed off key resistance, potential for further drop!
Price is facing bearish pressure from our first resistance (horizontal overlap resistance, 61.8% fibonacci retracement, 61.8% Fibonacci extension) and Ichimoku cloud where we can expect a further drop to our major support level (horizontal swing low support, 61.8% fibonacci extension). RSI is also seeing a bearish exit.
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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