GBPCHF: Complete Indecision

30 Jul 2020

GBPCHF is stuck in consolidation.
since July the pair is trading within a wide horizontal range setting equal highs and equal lows.

to clarify the future direction of the main we should wait for a daily violation of the range first.

1.19 is its resistance.
in case of a daily candle close above that, the price will most likely keep growing,
next goal will be - 1.2

1.176 is its support.
in case of a daily candle close below that, bearish continuation will be highly probable.
next goal will be - 1.165

in such kind of situations,
patience is your best friend