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02.03.2023 04:37 PM
GBP/CHF, H4 | Potential bounce from major support?

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Price is testing a key support level at 1.1246 which is an overlap support along with a 38.2% Fibonacci retracement . A bounce from here could see prices rise up to the next resistance level at 1.1356 which is a strong overlap resistance.

In terms of stop loss, we're eyeing 1.1192 which is below a recent market movement - this gives a healthy R:R of about 1:2.

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
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