Trader_Troy
Short

GBP/CHF multiple confluence for short

FX_IDC:GBPCHF   British Pound / Swiss Franc
I see shorts for GBP pairs this week. On this pair prices have broken below weekly support, and has been unable to close above this level on a weekly timeframe . We are about to see a bearish cross of the MA's on the daily timeframe , although they have already crossed on the 4hr time frame, and are in bearish territory on the weekly and monthly timeframes. We are also seeing an ABCD fib play with prices rejecting the 61.8 level. We had a number of weak data from UK last week, which should lead to a weaker GBP in the near term. This trade is a 1:2.2 risk/reward

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