GBPCHF 25 Aug 2023 on the daily timeframe, it looks like this pair is still continuing the bearish trend that has occurred since last week. It broke through the 38.2 Fibo level last week before finally reversing into a bearish trend. When referring to the stochastic indicator, the downward graph still looks like it will continue until it reaches the saturation point. Therefore, go-short may still be an option. When the pair is finally able to bounce back after touching the support line, go-long positions can be an option for traders. Learn the other indications and wait for the most appropriate time to determine the trading position.
