GBP has seen a large short interest the last week(s) and this will most likely continue due to the not so stellar expected growth in the UK. Technically the GBP has been going south against the CHF for some time now and has recently broken through a fairly strong support level 1.4600 - 1.4630. It retested that region a few times (8th, 11th and 13th of January)...
FX:GBPCHF CYPHER: Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD Safe Trades; open.spotify.com
After a sharp rally, bulls failed twice to break above the harmonic resistance created by the bearish Shark pattern. If 1.5054 support is broken, we will expect an increase in selling pressure which will drive price lowers towards green levels. Our suggested stop loss level is also shown on the chart by a red line. Good luck, Ali Sharif Azadeh, CFTe
GBP/CHF looks like it is making a contracting triangle in the wave 4 position. So far I have labelled this triangle as being in the middle of making wave e which is the final wave of an Elliott Wave triangle. I will be selling on a break of 1.4660 looking for an initial target of 1.4509 (38.2% Extension of wave 1-3) The second target is 1.4317 which is the...