Potential Bearish movement on GBPCHF
Price has been reached a weekly descending trend line with 5 bullish impulsive waves as well as showing divergence. After reaching this resistance zone, price has been reversed and broke the daily (5-wave) structure. Price now is moving inside a descending triangle as wave B of corrective ABC pattern. After finishing its minor five(ABCDE) movement inside the triangle, wave C is Expected which leads to breakout of the descending triangle to the bottom which is also expected as a continuous pattern. We are waiting for the breakout to enter the short position.
Will update the idea in case of breakout to enter the trade.
Will update the idea in case of breakout to enter the trade.
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