GBP/CHF is in a long term downtrend.
The pair retraced towards a strong resistance area around 1.3000.
This area 1.2880-1.3000 is a confluence of :
1. Fibonacci Level 61.8% of two down-swings.
2. Previous broken buttom now working as resistance (1.3031).
3. Downtrend line coming roughly at the same area.
4. Round number acting as a psychological resistance.
Yesterday's daily candlestick failed to close above both 61.8% Fibonacci Levels.
Bounce of this resistance area will target 1.2707,1.2610 then 1.2430 & SL should be 4H closure above 1.3010.
