However, the pair could still go for one more upswing, not necessarily up all the way to retest the upper , but just to retest the previous high. This last scenario is still possible and from a technical perspective we will have downside confirmation on the daily only once GBPCHF will have broken the lower , of the aforementioned pattern.
In any case, as said, there is already a good chance that it could drop right now, and we have to be ready for it, as the movement could be quite impulsive and therefore happen abruptly and very fast. For said reason, so we are looking to add sell positions already from minor patterns that are forming in the smaller timeframes (please refer to our smaller timeframes analyses for these), or considering placing sell orders from a level below the lower . Let us remind you that the expected drop, on the , will almost surely take the pair all the way to at least the 1.10 level and possibly lower.
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