GBP/CHF offers a trade opportunity

GBP/CHF offers a trade opportunity

Trade idea

SELL at 1.2750; TP1 1.2700; TP3 1.2660; SL 1.2775.  

These days you might want to exploit the vulnerability of the British pound which is weakened by the Brexit concerns. If you don’t feel comfortable trading the wild GBP/USD, there may be an interesting chance to get some profit from GBP/CHF.

On D1, we see a shooting star candlestick ahead of the 100-day MA.

GBPCHFDaily.png

On H4, GBP/CHF met the resistance of the 50-period MA. A decline below 1.2760 opens the way down confirming a “Double top” pattern. November lows around 1.27 will be the first target.

GBPCHFH4.png

Similar

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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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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