MMQ_FX

GBPCHF - To Revisit the 2020 low?

Short
FX:GBPCHF   British Pound / Swiss Franc
Haven't published publicly for a while! Quick short idea on GBPCHF .

Initially looking from a weekly perspective, I have made a top down analysis, focusing on the H1 timeframe for a potential entry this coming week.

As illustrated the August '19 low is proving to be a key zone of support, turned resistance and again support at around 1.16750.

The 2020 wick low is the lowest price of all time on this pair and should price manage to break the highlighted zone we may see a further bearish push to the downside to revisit, and sustain, a potential closure around the current low.

I will be setting an alert on this pair to inform me if/when price reaches the 1.16750 area, I can then monitor PA for opening potential shorts.

Huge 500+ pip potential move!
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