GBP/CHF Technical Analysis
The counter is currently in a 3-wave bear cycle.
Further, it is currently forming wave B in the form of a bearish flag pattern.
Hence, we expect the pair to find resistance around this area and commence its wave C.
Gbpchfshort
GBPCHF - Interesting AreaPrice has now pulled back down into the previous key resistance level, We will be looking into the lower time frames to see if this level becomes support, so that we can look for potential long opportunities tomorrow.
GBPCHF - BreakoutNow that the resistance level has been successfully broken we can begin to look for buying opportunities from the re-test. I expect price to pullback into structure, show signs of rejection, then proceed to the level illustrated.
According to COT data source - 53.2% are long
GBPCHF short for 115 pipsShort from the trendline. Pair recently broken below the trendline we should see a retest at the trendline and resume the downtrend.
Let me know your thoughts.
Trade safe and good luck.
GBPCHF short movement forecastGBPCHF short movement forecast, waiting TL break out and retest
Let's see what happend on next week
GBP/CHF - bullish daily channel in an overall bearish trend?GBP/CHF has been another surprise over the past couple of weeks. After breaking below 1.69 back in Late-June we had expected price to continue down. However we have seen extremely choppy markets but constrained within an ascending daily trend channel.
The upper boundary of this daily channel is once again being tested today, alongside testing strong resistance at 1.2015. Although price has pushed through the 50 DAY and 100 DAY EMAs, as the overall trend is still bearish, we will be looking for confirmation of rejection from the resistance at 1.2015 for a potential short entry and then a retest of at least the lower channel boundary.
GBPCHF - Price is ReadyI have been monitoring this pair for several weeks now and I feel like the time is ready for it to show some bearish activity. I have placed a sell limit at the price marked, I will look to enter this trade manually if I don't get the wick entry I am after.
GBPCHF - Long IdeaInteresting analysis here, I would expect price want to continue up to the target area marked. Let's see if we get good entry confirmations at the start of the week, we may consider a buy trade on this pair.
GBP/CHF Bearish BreakoutThis pair shot up a bit last week but since then has been forming lower highs.
I am looking for a bearish kumo breakout to coincide with a bearish kumo twist to confirm that it is time to try and push back lower as people rush back to safe havens like the Swiss Frank.
I've drawn out some partial take profit levels on the way to my overall target.
If we fail to maintain bearish confirmations, or if we fail to break down and hold below the kumo, this setup may become invalidated.
GBPCHF - Next MoveWe are now approaching a key level for this pair and I would expect a reaction from here. I have illustrated the next potential scenarios for GBPCHF, personally I am more inclined to the bearish set-up, this would provide us with a lovely risk to reward trade following the channel breakout.
GBP/CHF going lower💡Hello traders,
Hope you all have a fantastic day !
I would appreciate any likes and follows from this idea, that would encourage me to publish more ideas and analysis.
GBP/CHF has been rejected from ascending channel resistance line and now will head down to test support line of this channel.
Let us know what you think about this idea.
Trade safe !
Short opportunities for gbpchfPrice at resistant level, possible head and shoulders pattern formation
GBP/CHF Weekly Forecast (27th July - 31th July)Weekly swing trade on the GPB/CHF. The price is at the bottom of the channel, in case of a breakout, a trade with a great return risk ratio can be opened. The weakening of the pound is expected on a fundamental basis. (failure of customs negotiations with the EU.
