The red line is a 4 hour level, it's likely that we'll see GBPCHF pop back up to the level and then return near the swing low. If you look at the 1H for GBPCHF you'll notice is has A LOT of momentum to the downside, which makes me think that it will fail.
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Even though we just poked above the stop I did not close the trade because we failed to close above the level