USD/CHF: Identifying a Short Opportunity Within a Sideways Channel

Technical Analysis & Trade Setup

The USD/CHF pair is currently trading at 0.87858, exhibiting a largely sideways trend as indicated by recent price action and the narrow Day Range of 0.87771 to 0.87945. My technical assessment suggests a potential short opportunity given the pair's struggle to decisively break above key resistance levels. Specifically, the immediate resistance at 0.8795 has proven formidable.
My setup is initiated on the expectation of a rejection from this resistance. I am looking to enter a short position at 0.87886. This entry point is strategically placed to capture a downward movement should the pair fail to gain traction above 0.8795. My Stop Loss is set at 0.88025, which is a critical level just above the