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GBP-CHF

GBPCHF approaching support, potential bounce! GBPCHF is approaching our first support at 1.2852 (horizontal swing low support, 61.8% fibonacci extension, 50% fibonacci retracement) where a strong bounce might occur above this level to our first major resistance at 1.3057 (horizontal pullback resistance, 38.2% fibonacci retracement). Stochastic (34,,53) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
1
GBPCHF - How to TradeThe market makes every new high lower than the previous one. It gives a signal that probably the price will continue falling. As we have SMA100 not far from the current price, it acts as a strong support line. The breakout below this line will give confirmation of a trend reversal. We will be able to use this breakout as a sell signal with stop orders above the nearest swing high and profit targets at the resistance levels. MACD and RSI support the downtrend movement. As for the continuation of the uptrend, the price will have to break the local downtrend line and the resistance zone formed by 1.33000 and 1.33300 levels. It will give us a buy signal with stop orders below SMA100 and profit targets at the resistance levels.
by DLavrov
GBPCHF approaching support, potential bounce! GBPCHF is approaching our first support at 1.3125 (horizontal overlap support, 38.2% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.3281 (horizontal swing high resistance, 76.4% Fibonacci retracement). Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
Tight range which will lead to big opportunity.The GBP/CHF pair is in an extremely tight range between the 0.618 resistance(through broken once) and the 0.5 Fibonacci level from my chart. This one was an easy short scalp from the golden pocket resistance with its bearish divergences, but now finds support at 1.31 where i closed my short and opened a long to trade this range. The old day trading resistance of 1.31 has now been broken and looks to try and flip old resistance to support for another move up. For support we have 1.31 the .236 Fibonacci level, volume POC, and the old resistance which should flip to support. I also have been trading this pair from an in depth Elliott Wave count where we had been in a WXY correction, but have since formed an impulse wave from the bottom of Wave Y at 1.23 which is a good sign for the bulls. The problem that may hinder this is the Brexit news and uncertainty (though I do not trade news, only technicals). Top resistance is still the golden pocket and 1.345. My scalp long got filled on the move down today, so as of writing this I am still in a long day trading position, but I will take a much bigger position by adding upon a break of resistance, or alternately opening a short if we break through support. There are bearish divergences forming on this pair across the histogram, MACD, RSI and Stochastic RSI is coming down, tweezer top candle stick pair also formed last week, which all came together for a great short opportunity back down to support. So whilst there is strong price action support, there are bearish arguments too mid term. Therefore until a decision is made i will continue to scalp between 1.326 and 1.314 and open a much bigger trade upon resistance or support breaking.
by PatekCharts1
2
GBP/CHF Short I’m looking at shorting this pair as price made a fake breakout & now back into the downtrend range, that has just formed the bearish engulfing candle on D1. Friday close was stuck at the support. I have narrow it down to H1 and H4 and price hasn’t broken that, so I will wait for price to retest the previous resistance and enter the trade. However if price breaks the support line on H1 will active the trade. So look at for my Active notification . Please note , There's alot of news coming out of the UK this week , so expect high volatility . Take profit as where you see fit . :) My contents are 100% free . For Donations paypal.me/chartbychart. I appreciate your donations. You can All follow me on Instagram ; @chartbychart_Mentoring
Short
by creamygem
GBPCHF testing Support, Prepare For A BounceGBPCHF is approaching its support at 1.3202 (61.8% Fibonacci extension, 38.2 % Fibonacci retracement, horizontal swing low support) where price is expected to bounce up to its resistance at 1.3332 (horizontal swing high resistance). Stochastic (55, 5, 3) is testing its support where a corresponding bounce is expected. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Klimex
GBPCHF testing Support, Prepare For A BounceGBPCHF is approaching its support at 1.3202 (61.8% Fibonacci extension, 38.2 % Fibonacci retracement, horizontal swing low support) where price is expected to bounce up to its resistance at 1.3332 (horizontal swing high resistance). Stochastic (55, 5, 3) is testing its support where a corresponding bounce is expected. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Klimex
GBPCHF approaching resistance, potential drop! GBPCHF is approaching our first resistance at 1.3249 (Horizontal swing high resistance, 100% fibonacci extension, 61.8% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 1.2878 (horizontal swing low support, 38.2% fibonacci retracement). Stochastic (34, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill