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GBP-CHF

GBPCHF approaching support, potential bounce! Price is approaching our first support at 1.3023 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1.3270 (horizontal swing high resistance, 100% Fibonacci extension). Stochastic (55,5,3) is also approaching our major support where a bounce off 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 Tickmill
1
GBPCHF approaching resistance, potential drop! GBPCHF is approaching our first resistance at 1.3270 (horizontal swing high resistance, 100% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 1.3063 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension). Stochastic (89,5,3) is also reacting off our resistance and 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.
Short
by easyMarkets
GBP/CHF - stay long on breakout at 1.3265GBP/CHF upside remains capped at major trendline resistance at 1.3265. Break above could take the pair higher. Price action has broken above 200-DMA at 1.3231, but is struggling to extend gains above. Technical indicators are bullish on the daily chart. Momentum bullish, RSI above 50. Breakout at major trendline resistance at 1.3265 could see test of 38.2% Fib at 1.3241. Retrace below 200-DMA could invalidate the bullish bais. Support levels - 1.3231 (200-DMA), 1.3210 (5-DMA), 1.3167 (21-EMA) Resistance levels - 1.3265 (trendline), 1.33, 1.3329 (100-DMA) Good to go long on breakout above trendline at 1.3265, SL: 1.3230, TP: 1.33/ 1.3340/ 1.34.
Long
by FxWirePro
GBPCHF - SETUP - WEEKLY CONTINUATION - 28 JUNEWELCOME TO DACAPITAL TRADING!! GBPCHF just started moving as expected, quick Timeframe breakdown for free and everybody. 4 HOUR Slow bearish movement for now but we formed new lows. DAILY Market was considering last two weeks but is on right direction now. WEEKLY Overall very bearish with only 2 small bullish Candle overall in the last whole Wave LEVELS SHORT @ 1.30620 SL @ 1.30855 TP1 @ 1.30370 TP2 @ 1.30250 TP3 @ 1.30144 Weekly trend continuation, move SL to BE if TP1 hit and close partial Profits at every TP Level.! Enjoy our limited Free Content and Setups, leave us a like and Comment!! DACAPITAL TRADING
Short
by DACapitalTrading
GBP/CHF 1H Chart: Triangle reaches maturityThe Sterling has been trading sideways against the Swiss Franc since late May, as it failed to depreciate after breaching a one-year senior channel to the downside. In addition, this movement has been stranded in an ascending triangle pattern with the lower boundary being a trend-line and the upper one—the 1.3266 mark. Given that this pattern was entered from above, a breakout should occur southwards and subsequently be followed by a decline. The maturity of this pattern suggests that this breakout should occur in the nearest time. A possible short-term target for the following week in this bearish scenario is the weekly S3 and the 50.0% Fibonacci retracement at 1.3032. Conversely, an upside breakout of the 55– and 100-period (4H) SMAs at 1.32 should result in a surge up to the 200-period SMA and the monthly R1 at 1.35.
Short
by UnknownUnicorn890690
GBP/CHF breaks 200-DMA, stay shortTechnical Analysis: Bias Bearish - Price breaks below 200-DMA at 1.3156 - Recovery attempts rejected at 5-DMA at 1.3185 - Momentum indicators show highly bearish bias - RSI well below 30 levels shows bearish bias - MACD below zero, biased lower and we see -ve DMI dominance Support levels - 1.3038 (50% Fib), 1.2955 (Nov 15 low), 1.2845 (61.8% Fib) Resistance levels - 1.3160 (200-DMA), 1.3185 (5-DMA), 1.3231 (38.2% Fib) Good to go short, SL: 1.3185, TP: 1.3040/ 1.30/ 1.2955/ 1.29/ 1.2845
Short
by FxWirePro
GBP/CHF 1H Chart: Sterling approaches senior channelThe Sterling began depreciating against the Swiss Franc after reaching a two-year high of 1.3850 mid-April. During the past two weeks, this depreciation accelerated in strength and the pair consequently fell 2.90% until the 1.3150 mark. It is possible that the pair still edges lower down to this barrier, likewise supported by the monthly S2, within the following trading days. This scenario is supported by daily technical indicators. Subsequently, the Sterling should respect this senior channel and thus reverse near 1.3150. A possible upside target within the following two weeks is the 61.8% Fibo retracement and a medium-term channel at 1.3550.
by UnknownUnicorn890690
GBPCHF is testing resistance, potential reversal!GBPCHF is approaching its resistance at 1.3641 (61.8% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) price could potentially react off and fall to its support at 1.3447 (38.2% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 1.3511 (horizontal swing low support). Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reaction is expected. A bearish divergence with price was also identified which contributes to our bearish bias.
Short
by ICmarkets
GBPCHF Is Approaching Resistance, Prepare For A ReversalSell below 1.3641. Stop loss 1.3702. Take profit at 1.34775. Reason for the trading strategy (technically): GBPCHF is approaching its resistance at 1.3641 (61.8% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect prices to drop to its support at 1.3447 (38.2% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 1.3511 (horizontal swing low support). Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reaction is expected. A bearish divergence with price was also identified which contributes to our bearish bias.
Short
by theforexarmy
Seize the opportunity to sell at a high point! (GBP/CHF)As you know, the pound plunged this is because disappointing GDP data that did not match the projections released last Friday. Britain's economy grew only 0.1 percent and its rate of growth has dropped to 1.2 percent over the past year. This is the lowest data in five years. The figure is a strong reminder that Mark Carney, the UK's central bank governor who has just shown interest in raising UK interest rates, will not be able to raise rates in May. Since Mark Carney's speech about a week ago, the possibility of monetary tightening in May has dropped from 90 percent to 24 percent. Most currency traders are monitoring UK PMI data. If PMI's data were to crash, the pound would crash at a terrifying rate. On the other hand, Swiss Francs were on the decline due to a decrease in the attractiveness of their safety assets. The dollar was the strongest against the Swiss Francs. On the basis of the CFTC speculative net positons, however, the Swiss Francs has risen more than 0.2 K over the past week, while the pound has dropped more than 10.3K from the previous week. As for swing traders ' position, the amount of Sell Position in GBP / CHF can be seen as 10.5 K, making it likely to expand lower further. GBP / USD has already dropped significantly, but the Federal Reserve meeting on Wednesday and the Nonfarm payrolls on Friday are more important. Traders who would like to sell the pound would recommend selling GBP / CHF for the Hedge.
Short
by Allaboutforex