From the daily time frame, there is a W-formation formed and the current price action has been broken the structure and started to be pushed to the downside. In this situation, we might foresee the price will be pushed to the downside to reach the support area in order to complete a W-formation rules.
From the COT perspectives, GBP is getting weaker since the net position is keep decreasing with closing long and adding short position in the latest data and Hedge Fund seems like doesn't have much interest on CHF Thus, combining both Technical and COT perspectives, GBPCHF will be pushed to the downside.
Do drop a comment at the comment section below! We can share our analysis to each other.
Kindly take note that my analysis is based on COT perspectives and technical analysis .
Also, we always reacting to the market instead of predicting the market.
From the COT perspectives, GBP is getting weaker since the net position is keep decreasing with closing long and adding short position in the latest data and Hedge Fund seems like doesn't have much interest on CHF Thus, combining both Technical and COT perspectives, GBPCHF will be pushed to the downside.
Do drop a comment at the comment section below! We can share our analysis to each other.
Kindly take note that my analysis is based on COT perspectives and technical analysis .
Also, we always reacting to the market instead of predicting the market.