GBPCHF is approaching our first resistance at 1.3087 (horizontal pullback resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.2922 (61.8% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (34) is also seeing a bearish exit and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.