Buy Continuation to 1.40Cable strength Continues to pound the Swiss Franc even more. Price is reaching pre brexit area.
Price pullback to minor support and pushed higher
Risk Reward: 3
GBP-CHF
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.
GBPCHF BEARISH GARTLEY PATTERN Price is currently at pre Brexit levels and is struggling at a major resistance. We can see multiple patterns suggesting downside movement, a double top, a breakout of the ascending channel which support is now acting as resistance and a bearish gartley pattern has formed. We have also noticed on the smaller timeframes a breakout of an ascending channel so we will be looking for an entry to short this pair when market opens.
GBP/CHF: Shorting it !Hey guys,
The pair broke the rectangle from this nice rectangle pattern.
I am shorting it, with TP indicated in my chart, around 1.33050.
Any like/comment is highly appreciated.
Trade with care.
Cheers
Jesse
GBPCHF dont miss this short!GBPCHF has made a triple top! I expect a huge amount of GBP weakness throughout the month of April.
GBPHCHF Channel breakout Price has appeared to broken out of the recent ascending channel, we have highlighted where we think price will retrace to.
GBP/CHF sell updateI've been in this, took an entry at the top. It never fully touched or broke high, but that looks like an ending flat pattern to come down, not a running flat to go up. As I said before this trade has huge potential downside but look to take profit for smaller structure and let some ride is my opinion.
GBPCHF BreakoutIs it a Bearish Wedge or is it 3 Rising Valleys? Look for the Breakout Buy or break below and small retest for a Short.
GBPCHFPrice consolidating at the top of the channel and major level. I like to see a clear breakout of the channel before making any move.
GBPCHF Testing Major Resistance, Time To SellGBPCHF is testing strong resistance presenting us with a good selling opportunity.
Sell below 1.3466. Stop loss at 1.3527. Take profit at 1.3335.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3466 (Fibonacci retracement, horizontal swing high resistance, bearish harmonic formation) and a strong reaction could occur from this level to push prices down to major support at 1.3335 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 97% and a corresponding reaction could occur from this level.
GBPCHF Is Testing Major Resistance, Time To SellGBPCHF is presenting us with a really good selling opportunity.
Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space.
Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level.
GBPCHF Is Testing Major Resistance, Time To SellGBPCHF is presenting us with a really good selling opportunity.
Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space.
Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level.
GBP/CHF 1H Chart: Sterling breaches trend-lineFollowing five weeks of decline against the Swiss Franc, the British Sterling has managed to recover some of its losses during the past few sessions. This short-term period of appreciation started when the pair reversed from a senior channel circa 1.29 on March 2. Thus, the pair has been advancing towards the upper boundary of a medium channel located near 1.3250.
It is likely that the Pound continues edging higher towards this line during the following two weeks. However, some minor correction south is expected early next week. As a result of this move, the rate could fall down to the combined support of the 200-hour SMA, the monthly PP and the 38.20% Fibonacci retracement at 1.30. The recently-breached trend-line is likewise located at this mark.
