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Dragon_Investments

GBPCHF break a wedge

Short
British Pound / Swiss Franc (FX:GBPCHF)  
Dragon_Investments  
FX:GBPCHF   British Pound / Swiss Franc
Trend Analysis Chart Patterns Technical Indicators Wedge Relative Strength Index (RSI) GBP short priceaction Divergence possibilities stop
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trendanalysis chartpattern indicator wedgepattern relativestrengthindex gbp short priceaction divergence possibilities stop
The pair has broken a rising wedge recently and is now trading below the 50 sma in h4 chart and is in the bearish mood, we can clearly see the important divergence from the rsi to the price action; price will be pushed down towards the red line which highlights the first important support, if you decide to open a sell trade pay attention to the moving average and place a stop loss above it. Keep in mind that the pound is fundamentally not weak yet because due to its good GDP DATA and INFLATION is stillstrong in the long term but now we can try to cath a short term move.
Francesco
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