GBP/CHF Technical analysisFrom 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
GBPCHF trade ideas
Long GBP[great britan pound] and JPY[japnese yen]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- Range possiblitiesAB is a Range confirmed by pivots 'CDEF'.
As HTF bias is to the upside the price is likely to break the range resistance and continue to move up.
Green line: represents rejection or unacceptance of break of range boundaries
Orange line: represents acceptance of break of range boundaries
Trades can be taken one the pullbacks.
GBP/CHF > HEAD & SHOULDERS > 1HCreates head and shoulders pattern on 1 hour time frame.
If Break and close above Yellow Line >> Buy.
GBPCHFDowntrend-Lower Lows and Lower Highs
MA crossover iminent
61.8 fib hit-This area has proven to be a strong resistance lvl(Multiple hits)
