GBP/CHF - BEARISH Potential MoveHello Everyone !
Below we have GBP/CHF pair on a SHORT Possibility, Price has been breaking through support, retesting it seems with successful rejection We should Be seeing Price weakness for now with a downside Continuation to Validate Our Setup.
Extra Note : Price has been rejecting 61.8% Fib. Level in 1D Timeframe.
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Gbpchfshort
GBPCHF bearish sell
Price has been moving in a strong downtrend.
-PRice is struggling in a supply zone, that was once a demand zone
- price also retested a previous low
-it appears that a possible head and shoulders pattern will form
-the right shoulder has not fully formed and it look like it wants to form a double top, before the big push to the downside.
GbpChf- correction should be finishedAfter the false break above 1.21, GbpGbp broke horizontal support at above 1.2 and a strong sell of followed.
Now the pair corrected this down move and is ready for a new leg down.
The outlook is bearish for this pair and 1.16 zone could be reached in the medium term.
GBPCHF - SHORT FROM SUPPLYPlease support this idea with a LIKE & FOLLOW if you find it useful.
We can see on this pair we are near a D1 Supply zone.
Price has already begun to react to it so we can see a push down.
COMMENT what you guys think!
THIS IS ONLY MY OPINION AND SHOULD NOT BE TAKEN AS INVESTMENT ADVICE
GBPCHF Possible SHORTprice has pulled back nicely to the 618 fib area which is also a key resistance area.
It is also below the 50D EMA & the 100D EMA as added confluences
We also have a bearish continuation flag forming on the 1H TF as additional confluence
I expect a little bulllish movement (30-50 pips) before a rejection of resistance and a bearish movement to the downside to the region of 1.192 region
GBPCHF H1 ANALYSISHello traders, we currently have a short setup for GBPCHF on the H1 timeframe. Price is respecting many confluence areas, allowing a good probability setup to go short. If you are in this trade, or if you are not in this trade let's discuss why and why not in the comments section below. I will be giving real time updates on my trades as it progresses. If you feel like you're learning, please give us a follow and like the post to help others like you also learn in the forex markets. Study hard!
*Disclaimer*: This trade analysis was conducted by myself and is by no means a trade signal. This trade analysis is based off my opinions and is by no means indicative of future price action.