GBPCHF Long-term Buy Opportunity

The GBPCHF pair has been trading within a Bearish Megaphone pattern since the April 05 2021 High. Every Lower Low has been on the 1.786 Fibonacci extension from the previous and the recent series of Lower Highs have been rejected on the 1D MA200 (orange trend-line).

The price is now testing the Lower Lows trend-line and that makes it an automatic buy. The short-term target is the 1D MA50 (blue trend-line) and long-term the 1D MA200. Invalidation of the Megaphone is a sell signal, targeting the 1.786 Fib extension again.



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