JFD_Research

GBPCHF - 240 - Running Within A Channel Still

FX_IDC:GBPCHF   British Pound / Swiss Franc
GBP/CHF             has been on a strong up move since the beginning of this month and it seems that the pair wants to continue pushing higher. Certainly, we could potentially see a bit of retracement coming in before the bulls jump in again. Until the bottom side of the channel is broken, the possibility of longer-term declines is off the table.

For now, a confirmed move below the 1.34100, could pull the pair down towards the bottom side of the upwards moving channel for a quick test. This level could be around the 1.33650 area. However, as we already noted, as long as the pair stays within the channel, we would treat such a slide as a corrective move.

If the bulls manage to take the reins from near the lower end of the channel, then we may see a rebound and a test at the 1.3410 barrier as a resistance this time. A break above that level could aim for the recent highs of 1.34350. Another move above 1.3435 could open the path for the next potential level higher at 1.34575.

Judging the situation by our oscillators, we can see that both RSI and MACD are at their tops and flattening out, which supports that GBP/CHF             could be ready for a bit of a pull back.
On the downside, a break below the aforementioned channel is needed to indicate upcoming weakness in GBP/CHF             , we think.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out