wait for break of down trendline and retest for long oppurtunity

Jul 2, 2017

gbpchf is consalidating on weekly chart after a long term decline. it has tested the trendline coming down. although it breakout of it last time but market was not able to hold the breakout and fall back inside the trendline. though the breakout was failed it was unable to make a new lower low. know we are approching the trendline again, if we breakout we have better chances to hold out the breakout. i will wait for a retest after the breakout to intiate a long as market has quite a room to run to upside.
wait for further updates next week