Set Take Profit At Price Level 1699.916
Watch for a close above 88.105 for a buy. A close below 86.075 will negate this bullish trade idea.
Price is currently very near measured move target out of the pennant pattern breakout. One could reasonably expect some noteworthy profit-taking right about these prices. Just saying... :)
Here's a good study for the chart pattern freaks. EURUSD has broken out spectacularly out of a consolidation pattern that started forming in JULY of this year. This consolidation pattern has all the appearance of a textbook head & shoulder reversal pattern which we all know could be used to draw a measured objective. Let's see now.
GBPCHF Target Price 1.17521 and 1.16518. See August 23, 2020 Trade Idea