GBPCHF Consolidating at Support

11 thg 7, 2014

GBPCHF is clearly in an uptrend, as the channel on the chart illustrates. We've pulled back 50% from the recent swing low to swing high, and are consolidating at a support level here. This consolidation after a pullback is what intrigues me, and led me to go long at 5245 with my stop at 5200. I'm targeting 5380, the top of the price channel, as the point to take profit and exit.

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