GBPCHF is testing resistance, potential reversal!
GBPCHF is approaching its resistance at 1.3641 (61.8% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) price could potentially react off and fall to its support at 1.3447 (38.2% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 1.3511 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reaction is expected. A bearish divergence with price was also identified which contributes to our bearish bias.
Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reaction is expected. A bearish divergence with price was also identified which contributes to our bearish bias.
Trade closed: target reached
First profit target reached! woohoo
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.