Clear Inverse H&S Pattern for FX:GBPCHF by mattytb84

Clear Inverse H&S Pattern

Probably my favourite of the Sterling pairs along with GBP/AUD. The potential inverse head and shoulder pattern on the daily indicates a target of 1.36 which is nicely around the 61.8 fib retracement of the last move down. We are currently right on the neckline so good to keep an eye on the price action aroung this level.

Any thoughts or ideas are appreciated

Note

Similiar to the GBP/USD, this is the pitchfork and bull flag i am working with on lower time frames for the GBP/CHF

Note

Got to love the markets, just as we are trying to break out, boooooom more uncertainty. I cannot see for the life of me see the point of a snap election. The technicals are still valid, i have added a small position down here at 1.2562 with SL at 1.249, brave or stupid perhaps

Note

Well i was not expecting that news to be the catalyst for the GBP break outs. Ample proof of why we trade the technicals and let all the so called experts decipher whether this info is GBP positive or not.

Some profit taken here

mattytb84

Related publications

Long Term Low In The Pound

by mattytb84

Disclaimer

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.