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GBP-CHF

GBP/CHF long opportunity GBP/CHF has edged lower from 5-week highs at 1.2742, bias bullish. The pound remains buoyed ahead of UK labor market report. Upbeat growth in the UK’s wages could further the ongoing bullish momentum seen around the pound. Technical indicators are turning bullish on the intraday charts. Stochs and RSI have rolled over from oversold levels. The pair has broken above 21-EMA and is poised for further upside. Support levels - 1.2645 (21-EMA), 1.2592 (5-DMA), 1.25 Resistance levels - 1.2788 (23.6% Fib), 1.2848 (50-DMA), 1.30 (38.2% Fib/) Good to go long on dips, SL: 1.2590, TP: 1.2785/ 1.2850/ 1.30
Long
by FxWirePro
GBP/CHF pivotal at 61.8% Fib, short break belowThe Pound remains weak across the board, solid UK retail sales were unable to offset concerns about a no-deal Brexit. Brexit talks have resumed this Thursday in Brussels with the main issue being on how to prevent a hard border in the Irish Island. Technical indicators on weekly charts are heavily bearish. Price action has dipped below weekly cloud, broken below strong trendline support at 1.27. Recovery attempts lack traction. Break below 61.8% Fib will see further weakness till 1.2227 (78.6% Fib). Support levels - 1.2575 (61.8% Fib), 1.2442 (Aug 2016 low), 1.2227 (78.6% Fib) Resistance levels - 1.27 (trendline support turned resistance), 1.2820 (50% Fib), 1.2840 (21-EMA) Watch out for break below 61.8% Fib to go short, SL: 1.27, TP: 1.2440/ 1.23/ 1.2230
Short
by FxWirePro
GBPCHF approaching support, potential bounce! GBPCHF is approaching our first support at 1.2590 (horizontal overlap support, 61.8% Fibonacci extension, 50% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.2650 (horizontal overlap resistance, 100% Fibonacci extension). Stochastics (55,5,3) is also approaching our support and a strong bounce above this level might see a corresponding rise 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 easyMarkets
GBPCHF testing resistance, potential drop! GBPCHF is approaching our first resistance at 1.2655 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 1.2612 (horizontal swing low support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic (89,5,3) is also testing our resistance and a reaction below this level 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.
Short
by Tickmill
GBP/CHF: 1H ChartThe GBP/CHF exchange rate has been moving north since the middle of August when it reversed from 2018 low at the 1.2595 mark. By the time of this analysis, the rate had reached the lower boundary of a short-term ascending channel near 1.2650. It is very likely that a downside momentum starts prevailing within the nearest future as the 55- and 100-period SMAs (4H) push the rate down. It is the unlikely case that some bullish pressure still prevails in the market, the Pound should not exceed the monthly S1 at the 1.2758 mark.
by UnknownUnicorn890690
GBP/CHF 'Death Cross' adds bearish bias, tgt 61.8% FibGBP/CHF grinds lower after 'Death Cross' formation, next bear target at 61.8% Fib Brexit woes show little sign of dissipating anytime soon, GBP to remain under pressure. On the data front is UK Q4 GDP data that will come on Friday. Upbeat reading could lend the pound some support. Momentum with the bears. Next bear target lies at 61.8% Fib at 1.2845 ahead of 1.2745 (Oct 6 low). On the flipside, 21-EMA is strong resistance at 1.3022. Decisive break above could see upside till daily cloud. Good to stay short on upticks, target 1.2845/ 1.2745
Short
by FxWirePro
1
GBP/CHF 1H Chart: Downside risks in short termGBP/CHF has been trading in a descending channel since May. This movement south has been bounded in a more senior channel valid for four months. The bottom boundary of the junior pattern was tested two weeks ago. Since then, the Pound was driven by slight bullish pressure. After failing to overcome the 55-, 100– and 200-hour SMAs near 1.3050, the rate breached this minor channel and began falling closer to a channel line and the monthly S1 circa 1.2980. It is likely that downward pressure prevails today and sends the rate to this support cluster or even lower until to 1.29. By and large, the strong resistance at 1.3050 should be surpassed later this week just to form a breakout from the senior channel and reach the 200-day SMA and the 61.80% Fibonacci retracement at 1.3240.
by UnknownUnicorn890690
GBPCHF approaching resistance, potential drop! GBPCHF is approaching our first resistance at 1.3093 (horizontal overlap resistance, 61.8% fibonacci extension, 38.2% fibonacci retracement) where a strong reaction might occur below this level, pushing price down to our major support at 1.2986 (horizontal swing low support). A breakout below our intermediate support at 1.3020 (horizontal swing low support, 76.4% fibonacci retracement) might provide the bearish accleration to our major support target. Stochastic (55,5,3) is also approaching our resistance and a reation below this level 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.
Short
by Tickmill
GPBCHF approaching resistance, potential drop! Price is approaching our first resistance at 1.3160 (horizontal pullback resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension, short term descending resistance line) and might potentially drop to our major support at 1.2987 (horizontal swing low support, 61.8% Fibonacci extension). Stochastic (89,5,3) 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 ICmarkets
1
GBP/CHF short setupBritish Pound under selling pressure after UK’s inflation figures failed to meet expectations. UK headline CPI rose at an annualized 2.4% y/y missing forecasts at 2.6%. Core CPI fell to 1.9% y/y. Poor inflation figures could pour cold water over expectations of a rate hike by the Bank of England at its August meeting. GBP/CHF is extending weakness after break below 21-EMA. Technical indicators on daily charts have turned bearish. Stochs and RSI are sharply lower. Price is hovering around strong trendline support at 1.3050. Break below to see further weakness. Watch out for break below 1.3050 for further weakness, target 1.3025/ 1.30/ 1.2975
Short
by FxWirePro
2