Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.19815). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPCHF is in a down trend and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.3196). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPCHF is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
The GBP/CHF pair is currently in a rising wedge pattern.
The pair is currently at its resistance zone.
Hence we expect the pair to move to the levels of 1.31115 from here
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Trade: As long as 1.2600 is support look for 1.2770 and 1.2890.
Day Ahead: www.keytomarkets.com
We see few important Central Bank policy meetings includes Swiss Nation Bank and Norges Bank.
We expect SNB to remain on hold, whereas the Norges Bank is likely to deliver first rate hike in seven years from 0.50% to 0.75%.
With the recent NOK strength, we believe...
Everything is mentioned in the chart as to why we should go long coupled with All the positive bullish divergences on the higher time frames, Going long here.
Entry at the retest.
Buy: 1.30501
TP1: 1.31100
TP:2 1.31480
SL: 1.29890
From our analysis, it seems the pair breached out of the bearish channel consolidating around the Murrey math 4/8 level
so it is expected to go up and reach the 6/8 MM line
GBP can be the best trade starting from 4th may . It can be most effective to "GBPCHF,EURGBP,GBPNZD,GBPCAD and GBPAUD."
JPY can also be the best trade starting from 4th may . It can be most effective to"EURJPY,CADJPY,AUDJPY,CHFJPY and NZDJPY."
![GBPCHF: Long GBP[great britan pound] and JPY[japnese yen]](https://s3.tradingview.com/j/J1xtDd7B_mid.png "Long GBP[great britan pound] and JPY[japnese yen]")
