GBPCHF Breakout from the Daily/Weekly

Long term break to the upside. Placing a limit order for the best entry. / 4.8 RR

Price has been showing strength in the lower timeframe and is now ready to break out of its consolidating zone.
The consolidation has been tested 4 times in the past, and we all know in theory that the more times a resistance or support zone is tested, the more it weakens it.
Right now, the restest of that area is not being made in an aggressive fashion (which would provoke a rejection) but in a more steady and gradual way; this makes the price stronger and more solid because there is a much higher volume to plow through if it wanted to go through it again.
Also, RSI is in a tight upwards channel, adding to my thesis.

Here is the view of the lower timeframe where we can see the gradual uprise of the price, creating higher highs and higher lows:



We can also see that it has broken the rising wedge triangle to the upside. From experience, this indicates a very strong upward momentum since rising wedges are well known to typically break downwards...