GBP/CHF appears to be forming a major bottom after completing a long corrective decline near 1.0290. The chart suggests the pair may have finished a five-wave bearish structure, signaling a possible shift toward a new bullish cycle. Price is now attempting to stabilize above 1.0500, while recent buying pressure shows momentum is gradually improving. The first bullish confirmation level stands at 1.0800, and a sustained breakout above it could trigger a stronger recovery phase. This is only a breakout setup.
The projected upside targets are 1.1075, 1.1065, and 1.1426 in the medium term. On the downside, 1.0290 remains the key support and the main invalidation level for the bullish outlook. As long as the price holds above that low, the broader structure favors recovery rather than continuation of the previous downtrend.
We will update further information soon.
BrightRally_Research
The projected upside targets are 1.1075, 1.1065, and 1.1426 in the medium term. On the downside, 1.0290 remains the key support and the main invalidation level for the bullish outlook. As long as the price holds above that low, the broader structure favors recovery rather than continuation of the previous downtrend.
We will update further information soon.
BrightRally_Research
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.