ImperiumCFD

GBPCHF 4hr Bullish/Bearish Flag

OANDA:GBPCHF   British Pound / Swiss Franc
Two patterns in this trade with the highlighted pink displaying a bullish triangle as the downtrend got squeezed and broke out with buying pressure. This though could have been due to the bullish GBP in general with the news of lockdown easing and vaccines/antibody tests emerging left right and centre. This recent GBP strength might not be so strong relative to the CHF which is also proving strong. Therefore, the flag displayed in highlighted blue could be either bullish or bearish depending on market movements and sustained buying volume . This idea only shows the Bearish flag which could breakout after hovering in the middle of the range and retesting the support which will become resistance. It could reach the 0 and -0.27% Fib levels. However, it goes without saying the opposite could occur and that the trend is a bullish flag .

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