Bearish
GBP/CHF, at time of writing, is currently at 1.2225 in a range. IF the pair can break the Fib here, we are looking for a continuation to the ATR target at 1.2142, with a day chart bottom at 1.2119 as a further target.
Watch the USDX for any change in direction. The ATR for the pair currently is 121 pips per day and its 180 day average is 103 pips per day.
USDX was currently UP at the time of this post.
