GBPCHF-simple S/R setup

FX:GBPCHF   British Pound / Swiss Franc
833 6 17
This pair is starting a strong long term decline. Right now price closed below the strong level 1.500 and is bouncing from it.
Next targets would be the S/R levels shown on chart.
Best regards.

This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).

i agree with you, but i am in long now. Targeting 0.382 after potential cypher completed sharply and will look for short around retracement at 0.382 , 0.5 or 0.618.
In H1 chart i am also assuming a potential cypher to be form as well
S/R levels???
the MA 50 and 200 is at 1.47 weekly and monthly
FullTimeTrader ArAlshammary
Yes, 1.47 could be a good area to take some profits and move SL to BE, managing the trade depends on each trader. regards.
yep fully agree with you as candle is showing big rejection from resistance and a big continuation sign
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