GBPCHF (1H) - short term bullish bias
The pair is now trading sideways around the 30-day moving average after the pound's meteoric rise. Short-term traders have an opportunity to trade along the uptrend as the hourly chart is making its way back up. The RSI divergence was an indication that the sell-off was slowing down in the congestion area of 1.2670. The breakout above the immediate resistance of 1.2725 and the bullish MA cross are confirmations that buyers are getting into the game.
Key support: 1.2710
Key resistance: 1.2780
The pair is now trading sideways around the 30-day moving average after the pound's meteoric rise. Short-term traders have an opportunity to trade along the uptrend as the hourly chart is making its way back up. The RSI divergence was an indication that the sell-off was slowing down in the congestion area of 1.2670. The breakout above the immediate resistance of 1.2725 and the bullish MA cross are confirmations that buyers are getting into the game.
Key support: 1.2710
Key resistance: 1.2780
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.