GBPCHF is approaching our first support at 1.2894 (horizontal swing low support, 100% Fibonacci extension, 23.6% Fibonacci retracement, ascending channel support) and a strong bounce might occur above this level pushing price up to our major resistance at 1.30909 (horizontal overlap resistance, 78.6% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (89) is also approaching our ascending support lien and a bounce above this level might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.