GBPCHF - range narrowing. In which direction will we break out?
Updated
GBPCHF holding above 1.267 zone since mid-October.
On the hourly timeframe we are presented with a descending triangle formation with price making lower lows whilst making continuous rejections from the highlighted support zone.
Expecting two scenarios as annotated on chart, perhaps it will be fundamentals which will give price the necessary momentum to eventually make the break.
On the hourly timeframe we are presented with a descending triangle formation with price making lower lows whilst making continuous rejections from the highlighted support zone.
Expecting two scenarios as annotated on chart, perhaps it will be fundamentals which will give price the necessary momentum to eventually make the break.
Trade active
Short trade active! Currently running 50+ pips profit. Scenario #2 in play with a clean break to the downside.
I am awaiting the daily closure but i expect further downside continuation on this pair.
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