GBPCHF: An upcoming MARKET REVERSAL!
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🟢Forex Pair:
GBP/CHF
⚪Technical Analysis:
Since December 2020, the price has been following a strong bullish movement, bouncing and keeping the price over the main daily trendline.
One week ago it reached an important weekly resistance zone, that rejected the price many times in the past and it has currently re-testing the same area.
🔴Conclusion:
Considering the daily and weekly time frame, the current level rejected the price many times and there is good chance to get another rejection.
Aggressive traders would probably entry short soon, but I feel more conservative and I'll be waiting the breakout of the main trendline before planning my short position.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
GBP/CHF
⚪Technical Analysis:
Since December 2020, the price has been following a strong bullish movement, bouncing and keeping the price over the main daily trendline.
One week ago it reached an important weekly resistance zone, that rejected the price many times in the past and it has currently re-testing the same area.
🔴Conclusion:
Considering the daily and weekly time frame, the current level rejected the price many times and there is good chance to get another rejection.
Aggressive traders would probably entry short soon, but I feel more conservative and I'll be waiting the breakout of the main trendline before planning my short position.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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