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GBP-CHF

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
GBPCHF short position - still running - target 4RGood morning everyone, sharing with you the principles I used to get this nice position on GBP/CHF. The strong move visible on 4h chart caught my eye, signaling an unstable bullish environment. I entered on the 5m chart at pivot rejection + 50ema break. Price took a while to move and actually got against me for a while, then crashing pretty quickly. My target is the Weekly 0.382 Fibonacci retracement I'm really inspired to share with you guys the strategies that I'm using to successfully trade the markets and get consistent returns, get the first 2 lessons for free bit.ly
by UnknownUnicorn485324
GBP/CHF 1H Chart: Bullish sentiment weakensStrong upside risks have guided the GBP/CHF currency pair for the last two months. This movement began early in March when the Sterling reversed from the bottom boundary of the senior channel. It is now located near the other channel line. As apparent on the chart, the rate has not still fully reached this line which is located at 1.39, as it was disrupted by the strong plunge mid-Wednesday. A subsequent advance did not occur due to the resistance of the 55-hour SMA. Some slight recovery is still expected to occur within the remaining part of the week; however, the senior channel might still remain intact. Meanwhile, it is likely that the Pound edges lower in the medium term and breaches the prevailing ascending channel, the 200-hour SMA, the weekly R1 and the monthly R2 circa 1.3650. The following target is the 1.3550 area.
by UnknownUnicorn890690