GBP/CHF approaching support, potential bounce!

The GBP/CHF pair is approaching our first support at 1.3125 (horizontal overlap support, 38.2% Fibonacci retracement) where a strong bounce might occur above this level pushing the price up to our major resistance at 1.3281 (horizontal swing high resistance, 76.4% Fibonacci retracement).

Stochastic (34,5,3) is also nearing support where we might see a corresponding bounce in the price.

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The material has been provided by InstaForex Company - www.instaforex.com

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