GBPCHF-rejecting from a strong resistance area

Dec 1, 2015

After a stron rally this pair is finding resistance at a key level.
I expect a pullback and the the rally to continue.

Reason:

- strong long term S/R
- trendline resistance
- round level 1.55000
- 0.61 fib extension of last ABC structure
- bearish divergence on stochastics
- RSI trendeline broken

SL and targets on chart

Best regards

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).

Dec 2, 2015

Note

first target hit, moving SL to BE

Dec 3, 2015

Trade closed: target reached

second target hit