British pound breakout soon?
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
USD/CHF: Franc is weak
2019-11-11 • Updated
Recommendations:
BUY 0.994 SL 0.9885 TP1 1.004 TP2 1.0125 TP3 1.018
BUY 0.988 SL 0.9825 TP1 0.998 TP2 1.004 TP3 1.0125
On the daily chart of USD/CHF, the pair hasn't reached targets of "Wolfe waves", "Shark" (113%) and AB=CD patterns. The uptrend may recover after rebounds from the important support levels.
On H1, a break of the bottom line of the upward channel will implement AB=CD and "Bat" patterns with 127.2% and 88.6% targets. Rebounds from the convergence may be used to buy.
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