GBPCHF - Triggered short. Start of a recovery or chance to sell?

DAY TRADE - EXPIRES AT 9PM UK

Trade Idea
Trading within a Bearish Channel formation.
A break of bespoke support at 1.2341, and the move lower is already underway.
Bespoke resistance is located at 1.2387.
The bias remains mildly bullish but there is scope for a move in either direction at the open.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.2385, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.

We look to Sell at 1.2325
Stop: 1.2375
Target: 1.2225
Target 2: 1.2150

Commento:

Stop to 1.2346