Drawing a Fib off the Daily time frame we can clearly see that price is right at the 6.18 possible reversal line of the the Fib.
With that being said, we are seeing an opportunity for Bears to enter the market for GBPCHF and once price reaches the 61.8 golden ratio zone, we can expect Bears to take profit and leave room for Bulls to make their entry to take it up to our take profit (exit area) zone marked up on our analysis here.
With that being said, we are seeing an opportunity for Bears to enter the market for GBPCHF and once price reaches the 61.8 golden ratio zone, we can expect Bears to take profit and leave room for Bulls to make their entry to take it up to our take profit (exit area) zone marked up on our analysis here.