GBP/CHF may try to recover

GBP/CHF may try to recover

Trade idea

BUY at 1.26; TP1 1.2680; TP2 1.2775; SL 1.2560

On W1, GBP/CHF formed a “hammer” candlestick at the support line from the 2016 lows. The recent minimum of the price is not confirmed by MACD. As a result, a retracement to the upside seems likely.

GBPCHFWeekly.png

On D1, the candlestick formed on Friday also has a long lower wick. A return below 1.25 is needed to reestablish the bearish pressure.

GBPCHFDaily.png

 

Similar

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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