Nice idea on GBPCHF and there may be potential gains as you have identified by going long. The 1st support level that we have found is at 1.2894. It is a horizontal swing low support and ascending channel support, with 23.6% Fibonacci retracement and 100% Fibonacci extension. Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI is approaching our support and a bounce above this level might see a corresponding rise in price. If a corresponding rise does occur, we may want to take a closer look at the 1.30909 resistance level. It is a horizontal overlap resistance with 78.6% Fibonacci retracement. Excited to see how things develop.
Please take a look at our idea and share with us what you think.