The GBP/CHF pair is currently in a downtrend, evident from the preceding red 1-week candle. However, on the 1-day timeframe, the pair is showing an upward trend. As the price approaches the upper band of the Bollinger Bands (BB) indicator, indicating overbought conditions, our strategy is to sell, considering the upper BB line as resistance. The target for this sell position is the 1.077 area.
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.
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.