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.
GBP-CHF
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.
GBP/CHF LONGLONG ON GBP/CHF!
So I'm currently expecting a bullish breakout on this descending trend line, up to highs of 1.31500/1.32500.
Some turbulence is expected, as this might be a very rough ride, prices could ultimately kiss the trend line and breakout or could breakout to come back into normal range which is of course very frustrating.
However,
If you just have some patience on this pair, we could make over 185 pips!.
Be careful!
I will give updates on this, so don't panic!
TP: 1.31500/1.32500 .
GBPCHF - First time looking at this pairSimple break, retest and continuation?
Clean Charts is a must. Trade what you see and not what you think! Either way, the risk management is there
GBP/CHF sellLooking to take Gchf down for continuation of downtrend. I am looking for longer term downside on this pair. Not sure exactly how long I will try to hold it. Depends what it does. Just sold it.
GBPCHF 4H Chart: Trading sidewaysDuring the past few weeks, the British Pound has been depreciating heavily against the Swiss Franc. The depreciation occurred after the pair hit the weekly R1 at 1.3439.
The Pound Sterling has stopped its decline and has been in a period of consolidation. As can be observed on the chart, the currency pair has been trading inside a rectangle since February 9.
A breakout from the rectangle is expected to occur to either direction in the nearest time. In the meantime, technical indicators suggest that bears could grow stronger.
GBP/CHF 4H Chart: Bearish market The British Pound has been depreciating in a channel down against the Swiss Franc after it touched the upper boundary of a dominant channel on January 22.
Meanwhile, a breakout occurred through the lower boundary of a triangle pattern as can be observed on the chart.
During the following trading sessions, the GBP/CHF pair is likely to continue its bearish path until it meet a support cluster of the weekly and monthly pivot points near the 1.2888 mark. In addition, technical indicators are all giving signal to sell the pair.
GBP/CHF Short !?We are just about to break the upward Trend here and price already breaks the rising trendline on friday.
Just below current price we can find an interesting s/r zone which needs to break before i consider a short entry because price could easily find support here and start to push up again .
Without this s/r zone i would enter this trade depending on the monday open and daily price action but thats not the case so i will just sit on my hands until price reaches this s/r zone .
So my plan for this pair is to wait for a break n close below the zone to enter a short trade.
No break no Trade .....
GBP/CHF 1H Chart: Pair forms triangle-like patternThe British Pound has been appreciating steadily against the Swiss Franc since mid-September. However, the pair has shown reluctance to move past the 1.35 mark—its highest level since the Brexit vote, thus failing to reach the upper channel boundary on two separate occasions within the last two months. As a result, the rate has been constrained in a triangle-like formation between the aforementioned 1.35 mark and the bottom channel line.
This situation allows to think that the Pound could edge lower until this channel line, the weekly S1 and the monthly PP located at 1.3250. After that, the rate is expected pick up speed and approach the 1.35 area once again. However, it does face some noteworthy resistance levels along the way, such as the 200-hour SMA at 1.3350 and the combination of the 55– and 100-hour SMAs at 1.34.
GBP/CHF 4H Chart: At crossroadsThe Pound has recently decline against the Swiss Franc due to not being able to pass the resistance of a medium scale ascending pattern. However, it was already expected that the pattern will be broken.
Instead the currency exchange rate has begun a decline to a support cluster near lower trend line of the most dominant ascending pattern. That indicates that the pair should surge and break the resistance of the short term and medium term patterns.
Although, in regards to the short term the situation has become unclear, as the short term pattern’s resistance has stopped the recent rebound.
GBP/CHF 1H Chart: Two opposing patterns on chartGBP/CHF has been trading in a channel down for the last five weeks. The pair was trading along its upper boundary for two sessions prior to breaching this line early today. It could demonstrate a possible breakout; however, this scenario should still be confirmed with more bullish candles, especially given that a breakout of an ascending wedge that occurred on December 28 points to a soon depreciation.
Taking this into account, it is expected that the Sterling could still edge slightly higher during the following sessions (possibly up to the 1.3254 area where the monthly PP and the weekly R1 are located), but bears might soon take the upper hand in the market. This should be confirmed by a breakout of the 55-, 200– and 100-hour SMAs circa 1.3205.
