GBP/CHF Retest of support break possibly coming??

I am thinking that price will continue down to the area of previous well held support. This level is also at the fib level of 161.8 of the move. For pattern traders this would be a Bullish butterfly completion. There is good reason to think this level will hold for now. If so I expect to see it look to retest the prior area of support.

In regard to trading this. There is an opportunity to buy at this 161.8 area with a tight stop in place. Or wait for a retest and sell on confirmation of candle signal.