GBPCHF INTRADAY capped at 1.1120

The GBP/CHF currency pair remains under bearish pressure, in line with the broader downtrend. Recent price movement reflects an oversold rally that stalled near a key resistance level at 1.1120, which previously acted as an intraday consolidation zone.

This level now serves as a crucial pivot. If price fails to break above 1.1120 and faces rejection, it could trigger a continuation of the bearish trend with downside targets at:

1.0690 – Initial support

1.0600 – Medium-term target

1.0460 – Long-term support level

On the flip side, a confirmed breakout and daily close above 1.1120 would invalidate the bearish bias. This would open the door for a recovery toward:

1.1200 – First resistance above the breakout

1.1250 – Key upside target

Conclusion
The bearish bias remains intact below 1.1120, with oversold rallies likely to attract selling interest. A daily close above 1.1120 would be a bullish signal, potentially shifting momentum toward higher resistance levels.

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