GBP/CHF Bounces Up Off of the Lows

The
GBP/CHF
is rallying up off of an all-time low. To many traders this is the environment to look for selling opportunities. The next level of resistance is the December 27th high of 1.48940. A reversal before that level is a solid selling opportunity with a protective buy stop set just above the 1.4900 level. A move up through that resistance is not a change of trend but a hint to be a little patient in identifying the reversal back to the downside.