GBPCHF LongAfter breaking of the resistance ,price has retraced back to 0.5 of the fib , so now the resistance has turned into support so now we will be taking long position , with medium risk to reward ratio.
Also backing up this idea is CHF being weak where as GBP being very strong in this week.
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Gbpchflong
GBP/CHF BreakoutAs previously reported on GBP/CHF this is breaking above the resistance. If this closes above resistance then look for a retrace to support before entering a long. TP is 1.25320 which is the next resistance level. Use 4HR and 1HR timeframes and MACD and EMA to help time the entry. I will make another idea with shorter timeframes if this starts to retrace to support.
GBPCHF - Ascending triangleGBPCHF has formed ascending triangle and it started to test important psychological level and resistance at 1.22. We have seen that GBP has been very strong recently mainly because it was undervalued before the Brexit deal was agreed. A break of resistance would signal further move north.
Price levels above 1.25 are expected later this year.
GBPCHFANALYST: AMUN SULED ➖ COMPANY: OCSI CAPITAL MANAGMENT ➖TRADE NUMBER : 3
* ORDER FLOW: bullish
* DAY OF THE WEEK:Friday
* PROJECTED TP : 1.22314
* PROJECTED SL: 1.20387
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GBPCHF ( ATTENTION EVERONE)GBPCHF is moving while respecting Trend channel (Bearish channel) and I am saying that GBPCHF will buy after a break of trendline resistance, Remember that price has already tested the stong level of support from here it can buy and break the bearish channel easily , So the way in which we will be approaching this is always being reactive and not predictive