GBP/CHF Long Term Bearish Setup
Updated
The pair is trading in its last leg of corrective upside rally which is likely to find resistance around 1.3529 on any further extension of gains and turn lower for long term. The pair is extending weakness making lower highs and lower lows suggesting that the underlying long term bearish trend is still intact.
An early sustained break below 1.2950 shall mark the short term top is placed and the pair will be heading lower towards 1.2750.So buyers be cautious with their trades.
My long term target is 1.1135 to 1.0730. I am already in sell and is going to hold it for my long term targets.
An early sustained break below 1.2950 shall mark the short term top is placed and the pair will be heading lower towards 1.2750.So buyers be cautious with their trades.
My long term target is 1.1135 to 1.0730. I am already in sell and is going to hold it for my long term targets.
Note
s3.amazonaws.com/tradingview/snapshots/y/Yp5SdCQ9.pngThe pair has turned down sharply after approaching 1.3470 thereby signifying that the immediate term top is placed and the pair will be heading downward towards 1.31 in coming weeks. Although I was expecting the pair to be heading towards 1.3510/30 before turning down. Got out of the buy trade and now will be looking for selling
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