Key Resistance Holds: GBP/CHF at 1.1221 Barrier Again

The price action now suggests the formation of a triple top pattern, a bearish reversal signal. This is further emphasized by the presence of a black neckline, representing dynamic support. A daily close below this neckline would confirm the bearish breakout, providing a strong signal to sell. In this scenario, the target for the decline would naturally align with the next support level, marked at 1.1118 in orange, a level that proved its importance during October and November.

Conversely, should the price remain above the black neckline, the potential for further testing of the 1.1221 resistance remains. However, given the multiple failed attempts to breach this level, a bearish breakout seems more likely. Traders should monitor today’s close for confirmation of the next move.