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FxWirePro: GBP/CHF Trade Idea

  • Chart pattern formed- Descending triangle pattern
     
  • Major support – 1.3030.
     
  • GBP/CHF has once again recovered after hitting low of 1.30309. The pair jumped till 1.30831 at the time of writing. It is currently trading around 1.30908.
     
  • It should break above 1.3100 for minor bullishness. Any convincing break above 1.3100 will take pair to next level till 1.31740 (Nov 7th 2017 high)/1.3217.
     
  • On the lower side, any break below 1.3030 will drag the pair to next level till 1.2975/1.2900.

It is good to sell below 1.3030 with SL around 1.3065 for the TP of 1.2975/1.2900.              

Resistance
 

R1- 1.3100
 

R2 1.3174
 

R3- 1.3217
 

Support               
 

S1- 1.3030
 

S2- 1.2978
 

S3-1.2950

 

 

 

 

 

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