GBPCHF: Potential Structure Trade 🇬🇧🇨🇭
Updated
Hey traders,
GBPCHF is trading in a bearish trend since April.
Setting a new structure low in August, the price retraced.
For the last two weeks, we see a sharp bullish rally.
Yesterday the price reached 1.28 key daily structure resistance.
A trend-following move may initiate from that.
To catch it, on focus is a rising channel on 12H chart.
Wait for its bearish breakout (candle close below its support) & then sell aggressively or on a retest
with your safe stop lying above the highs of the channel.
Next support will be 1.261
In case of a bullish breakout of the underlined red structure,
further bullish continuation will be expected.
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