GBPCHF: Update – Ascending Channel
From the chart, we can clearly see that the price followed our previous forecast.
The channel breakout on the top is obvious, but it was just a breakout without the proper momentum.
Probably many traders that were positioned for a more movement found themselves in trouble in that zone.
The probability is very high that we can see the price to follow the red scenario and this is also my favorite scenario.
Anyway, we have to be careful as the price will react near the support line.
Thank you and Good Luck!