GBPCHF Approaching Key Resistance: Will Sellers Target 1.12630?

GBPCHF is approaching a significant resistance zone, marked by prior strong price rejections and selling pressure. This area has historically acted as a strong supply zone, suggesting the potential for a bearish reversal if sellers step in.

The current market structure indicates that if the price confirms rejection within this zone, we could see a move downward toward the 1.12630 level. This target aligns with the broader range-bound behavior observed in the pair.

Traders should monitor for bearish confirmation signals, such as bearish engulfing candles or strong rejection wicks, to validate potential short positions.