GBPCHF 7 Jul 2023 on the weekly timeframe. After being bearish last month, the pair was able to reverse the trend and is now in a bullish trend. It is at 1.14121 and is continuing to rise towards the 50.0 Fibo level. Although it looks like the pair is still ranging between the 38.2 and 50.0 FIbo levels, but if we refer to the MFI indicator, it looks like the pair is above the 50 level and continues to rise. Therefore, go-long positions can be an option for long-term traders. However, it is important to stay alert to any market changes that may occur.
