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GBP-CHF

GBPCHF to turnaround at 61.8% retracement?GBPCHF - Intraday Buying pressure from 1.1108 resulted in prices rejecting the dip. The current move higher is expected to continue. Although this gives the medium term bias a mild bullish edge, we expect intraday trading to continue to be mixed and volatile. Preferred trade is to sell into rallies. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.1270, resulting in improved risk/reward. We look to Sell at 1.1255 (stop at 1.1295) Our profit targets will be 1.1150 and 1.1130 Resistance: 1.1250 / 1.1315 / 1.1415 Support: 1.1150 / 1.1080 / 1.0990 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
1
GBPCHF - Bears Took Over, Now What For The Bulls!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. GBPCHF has been stuck inside a range in the shape of a symmetrical triangle. As per my last analysis (attached on the chart), GBPCHF was around the upper orange trendline so we were looking for sell setups. Now GBPCHF is approaching the lower trendline, so we will be looking for buy setups. Moreover, the lower orange trendline is a support zone. 🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of a support / lower orange trendline. As per my trading style: As GBPCHF is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
6
GBPCHF - Looking For Sell Setups ⬇️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. GBPCHF is stuck inside a range in the shape of a symmetrical triangle. As per my last analysis (attached on the chart), GBPCHF was around the lower orange trendline so we were looking for buy setups. Now GBPCHF is approaching the upper trendline, so we will be looking for sell setups. Moreover, the blue zone is a strong supply. 🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue supply and upper orange trendline. (acting as non-horizontal resistance) As per my trading style: As GBPCHF is sitting around the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
13
GBPCHF, H4 | Bullish bounce opportunity?Price is testing a key support level at 1.1246 which is an overlap support along with a 38.2% Fibonacci retracement. A bounce from here could see prices rise up to the next resistance level at 1.1356 which is a strong overlap resistance. In terms of stop loss, we're eyeing 1.1192 which is below a recent market movement - this gives a healthy R:R of about 1:2. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
1