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.


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.




How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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