The overall trend of GBPCHF is bearish at the moment. After seeing a retracement back up to 1.1427 and failing to create a higher, a strong push by the bears indicate that the downwards momentum will continue. With a break of an upper limit and small break of the lower limit trend line , I expect a retracement up before down lower.
Daily time frame analysis: I expect the 4th wave to be finish, and that it will now continue making its 5th wave
Trade closed: target reached:
Wow! Prices came 3 pips to my stop loss! Lesson to be learned haha