GBPCHF - Oversold at Demand: Longs on Confirmation?

[theSignalyst]

GBPCHF has been drifting lower on the 4H inside a falling channel. Price is now tapping a multi-touch demand zone around 1.066–1.070, right at the channel’s lower bound—classic confluence for a bounce.

As long as this base holds, I’ll look for reversal confirmation (wick rejections/HH-HL) to ride a rotation toward 1.075 first, then 1.082–1.085 near the channel midline . A clean 4H close below 1.064 would invalidate the idea and expose 1.060–1.058 next.

What’s your move — buy the dip at demand, or wait for a break of the red channel before joining?

️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.

Stick to your trading plan regarding entries, risk, and management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr