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Gbpchf_forecast

GBPCHF long long longThe pair is getting ready for an explosive move imo. After entering oversold territory and bouncing back the pair has been meeting resistance at around 1.194 area as expected. It did try to move lower but it failed to do so, we can see the last daily candlestick is a pinbar and the day before it also failed to move lower. If it breaks the resistance the pair can move up all the way to the next horizontal resistance at 1.224. Bear in mind that we will face some resistance at the MA50. 4H chart becomes interesting : We see a very clear inverse H&S formation, you can also say it is a cup and handle formation or simply that after a strong move upwards after meeting support the pair has slowdown a little bit before making the next move up. It doesnt matter how we call it, the important thing is that if the pair breaks the previous highs (black line) it has the potential to move quick. Trade safe!
Long
by MicKi
GBPCHF - 150 PIPS + OPPORTUNITYDo not open any trades yet, wait for second high test. I personally have already opened a trade when it did it's high test before the last candle drop. Will keep it open or close it as the market gives more data as to which direction it wants to take. GBPCHF has broken under the 4H 50 EMA and is failing to recover back on top. Following the drop, prices did a high test (weren't able to push for a move higher up). Thus, confirming it can't move back up. We can expect a drop of 150 pips + after another high test happens shortly (Green candle with tick only on top of body and preferably no tick under the body) on the 4H chart. Trade safe.
Short
by MoolahMaker
GBPCHF Testing Major Resistance, Time To SellGBPCHF is testing strong resistance presenting us with a good selling opportunity. Sell below 1.3466. Stop loss at 1.3527. Take profit at 1.3335. Reason for the trading strategy (technically): Price is testing major resistance at 1.3466 (Fibonacci retracement, horizontal swing high resistance, bearish harmonic formation) and a strong reaction could occur from this level to push prices down to major support at 1.3335 (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 97% and a corresponding reaction could occur from this level.
Short
by MEX_Exchange
GBPCHF Is Testing Major Resistance, Time To SellGBPCHF is presenting us with a really good selling opportunity. Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145. Reason for the trading strategy (technically): Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space. Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level.
Short
by MEX_Exchange
1
GBP/CHF 1D Chart: Heads towards 55-day SMAGBP/CHF 1D Chart: Heads towards 55-day SMA The British Pound is simultaneously fluctuating against the Swiss Franc in three different patterns. The largest ascending channel started to form a year ago and nowadays consists of three reaction highs and two reaction lows. The medium ascending channel represents a fragment of the dominant formation and is lying along the rising 55-, 100- and 200-day SMAs. Accordingly, the third ascending channel began to form within the secondary pattern. As the currency rate has recently made a rebound, the Sterling is expected to enter into the new depreciation phase. In this sense, combined support set up by the 55-day SMA as well as the bottom boundaries of two secondary might temporarily withhold the pair above the 1.30 mark. But eventually the new medium-term downtrend is expected to prevail.
by UnknownUnicorn890690