Dear Traders and follower
As per the corrective structure gbpchf will go down very sharp. i do not know what will happen fundamentally. but technically, there are lots of possibility to sell off.
Lets see !!!!!!!!!!
Note: Everything works with Best money management.
Note: Please leave comments for any query.
Disclaimer: Trade at your own risk.
Good Luck...!!...
GBP/CHF 1D Chart: Heads towards 55-day SMA
The British Pound is simultaneously fluctuating against the Swiss Franc in three different patterns. The largest ascending channel started to form a year ago and nowadays consists of three reaction highs and two reaction lows. The medium ascending channel represents a fragment of the dominant formation and is lying...
Here I have analyzed an opportunity to take a short position on the GBP CHF currency pair due the the economic data soon to be released in France this morning. I have place my trade entry here at the 1.30750 level and we should have a selloff from this point on
With the release of the Rightmove House Price Index this morning showing falling house prices in the UK we still have no reason to be bullish on the Pound.
GBPCHF has been in a strong downtrend of late, indicated by the lower lows and lower highs on our chart. We are looking at a very simple swing trading opportunity here by selling at the Weekly Central Pivot...
GBPCHF got its strength from CHF's weakness which is weaker than GBP. GBP also lost its strength but not so powerful to lose its total strength. GBP inflation and unemployment news released strong in last 2 weeks. This pair might see its retracement which stays 1.2550 band equals to fibbo %50 band. Might move upwards till 1.30 band which monthly Res holds and...
Our preference: rebound towards 1.2402 before a resumption of the decline.
Alternative scenario: in excess of 1.2402, the GBP / CHF could go on 1.2439 and 1.2462.
Comment: The RSI is greater than 50. The MACD is greater than its signal line and positive. In addition, prices are below their moving average 50 (1.2357) but above their moving average 20 (1.2343
