gbpchf long idea GBP/CHF was traded side ways in a form of a consolidation for many months before the price escapes from under the consolidation zone , and if you did read my educational post about consolidations you understand that for the price to break under the consolidation zone means for it to enter a bearish phase , and that's what happened exactly , the price fell all the way down from 1.2267 to 1.1530 ( almost 800 pips of movement !).
now with the price dipping and being traded in the abyss if i may call it , the price did some jumps from 1.1530 to 1.1674 breaking above 1.1626 which I consider it as a sign of strength ( the sign of strength is a sort of a bullish confirmation) , and if the price holds above 1.1530 ( which is by the way a strong demand zone ) , the price is likely to shift from being bearish and enter it's bullish phase , and if that happen the price is likely to pump all the way up to 1.1638 as a start and if it breaks above it to 1.1675 and for a possible continuation to 1.1739 and 1.1800 .
so to summarise it : the price is showing some signs of strength and if it remains being traded above 1.1530 we will possible see a pump to the mentioned targets above .
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