GBP/USD: picture has worsened
GBP/USD turned down from the levels around 1.3015 this week and fell below the 100- and 200-day MAs in the 1.2960 area.
USD/CHF: franc is hunting sharks
Recommendation:
SELL 0.9325 SL 0.938 TP1 0.9255 TP2 0.9220
BUY 0.9475 SL 0.9420 TP1 0.9610 TP2 0.9715 TP3 0.9780
On the daily chart of USD/CHF, bulls need to rise above resistance at 0.9475 and trigger the “Shark” pattern. This is a signal of their weakness. Currently, bulls and bears are fighting for 0.9380. The further face of franc depends on the result of this battle.
On H1, the decline of USD/CHF below support at 0.9340 and 0.9325 allows triggering the “Shark” pattern and AB=CD. Their 88.6% and 200% targets correspond to 0.9255 and 0.9220.
Ivan Karamazov
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