After a breakout of a horizontal demand cluster last week, GBPCHF began to gradually recover while forming a symmetrical triangle pattern.
The market showed a clear rejection from the broken area. The next signal for a bearish trend will be a breakout below the support of the triangle pattern, confirmed by a 4-hour candle closing below that level.
This is likely to push the market down to at least the 1.1200 level.
If you have not yet entered a short position, it is recommended to wait patiently for a breakout to occur.
The market showed a clear rejection from the broken area. The next signal for a bearish trend will be a breakout below the support of the triangle pattern, confirmed by a 4-hour candle closing below that level.
This is likely to push the market down to at least the 1.1200 level.
If you have not yet entered a short position, it is recommended to wait patiently for a breakout to occur.
Join our Telegram channel for daily market update 👇👇
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join our Telegram channel for daily market update 👇👇
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.