Trade Alert
GBPCHF is getting pushed into a corner by the bulls and the bears and it is unclear for now, where this will go. We will have to wait for the break and then take a careful position. For now, what we can do, is to continue monitoring the pair and prepare for a break. maybe even setting some potential orders. The only problem with those would be the false breakout, that could trigger your SL during the increase in volatility during the potential break time.
A break below the 1.3050 area could open the path towards the 1.2985, which if broken, could lead to a test of the 1.2865.
Alternatively, a break through the downwards moving trendline could interest more bulls to join the party. But for better confirmation, we would like to see a close above the 1.3190 level, in order to consider further upside moves.
Never forget your SL.
GBPCHF is getting pushed into a corner by the bulls and the bears and it is unclear for now, where this will go. We will have to wait for the break and then take a careful position. For now, what we can do, is to continue monitoring the pair and prepare for a break. maybe even setting some potential orders. The only problem with those would be the false breakout, that could trigger your SL during the increase in volatility during the potential break time.
A break below the 1.3050 area could open the path towards the 1.2985, which if broken, could lead to a test of the 1.2865.
Alternatively, a break through the downwards moving trendline could interest more bulls to join the party. But for better confirmation, we would like to see a close above the 1.3190 level, in order to consider further upside moves.
Never forget your SL.