GBPCHF 4h Chart: bullish move expected
There are multiple divergences on the GBPCHF 4h chart - and looking back at some divergences we've seen in the past couple of days, those divergences almost always indicated trend reversals.
We even can spot a hidden divergence, since there are oscillators (RSI, CCI) with higher lows while price is showing lower lows.
RSI has been in the oversold area, a couple hours ago and is moving up now - I do expect that price will start to move up until RSI is in the overbought area.
Price crossed the lower band of the bollinger band indicator - it might move up to the 20 SMA of the BB, maybe even to the upper band.
A conservative profit target would be the weekly pivot at 1.26517 - and this is around the 20 SMA.
We even can spot a hidden divergence, since there are oscillators (RSI, CCI) with higher lows while price is showing lower lows.
RSI has been in the oversold area, a couple hours ago and is moving up now - I do expect that price will start to move up until RSI is in the overbought area.
Price crossed the lower band of the bollinger band indicator - it might move up to the 20 SMA of the BB, maybe even to the upper band.
A conservative profit target would be the weekly pivot at 1.26517 - and this is around the 20 SMA.
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