GBP/CHF Trade Ideas

GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern. That offers the pair an opportunity to gain to 1.1870/90 and then to 1.1945. At the same time, we can’t ignore the fund...

GBP/CHF slipped below the 50-day MA this week. The line is currently acting as resistance at 1.1905. Earlier declines below it led to bigger moves down. This allows us to expect that the fall below 1.1850 will trigger a slide to 1.1785 (38.2% Fibonacci retracement of the March-April advance) in line...

Trade idea SELL 1.2160; TP1 1.2100; TP2 1.2075; SL 1.2180  Last week GBP/CHF topped at 1.2475 as it met the previous support and now resistance line connecting the 2016 and 2018 lows. The pair formed a bearish “shooting star” pattern on the W1. This week the pair has slipped below the declining 100-...

Trade idea SELL 1.3140; TP 1.3015; SL 1.3165 There are many ways to bet on the decline in the British pound. One of them is to sell GBP/CHF. The pair ran into the resistance of the descending 50-month MA (1.3350). In addition, it tested levels above 200-week MA at 1.3257 but then returned below it....

Trade idea SELL 1.3165; TP1 1.3120; TP2 1.3085; SL 1.3185 BUY 1.32; TP 1.3260; SL 1.3180 Here’s another short-term trade idea based on pursuing the market’s correction (remember that this kind of trade is riskier than trend trading). GBP/CHF got capped last week by the descending 200-week MA at 1....

Trade idea SELL 1.2885; TP 1.2800; SL 1.2915 GBP/CHF found resistance in the 1.3100 area (resistance line connecting July and November highs). Only the support of the 100-week MA/200-day MA in the 1.2900 region keeps the pair from falling down to 1.28 and 1.2710 — 38.2% and 50% Fibonacci retracement...

Trade idea BUY 1.2735; TP 1.2820; SL 1.2715 On W1, GBP/CHF is trading in a descending wedge. The pair recoiled from the pattern’s lower border and turned up. On D1, we can see that the pound rose above the range, in which it stayed during the most of December. Yesterday’s candlestick showed that t...

Trade idea BUY at 1.26; TP1 1.2680; TP2 1.2775; SL 1.2560 On W1, GBP/CHF formed a “hammer” candlestick at the support line from the 2016 lows. The recent minimum of the price is not confirmed by MACD. As a result, a retracement to the upside seems likely. On D1, the candlestick formed on Friday als...

Trade idea SELL at 1.2750; TP1 1.2700; TP3 1.2660; SL 1.2775. These days you might wanna use the weakness of the British pound which is weakened by the Brexit concerns. If you don’t feel comfortable trading the wild GBP/USD, there may be an interesting chance to get some profit from GBP/CHF. On D1...

GBP/CHF falling inside minor impulse 3 Next sell target - 1.2500  GBP/CHF continues to fall inside the minor impulse 3 – which previously broke through the major support level 1.2900 (former major support level from February and March). The breakout of the support level 1.2900 accelerated the active...

Trading opportunities on the currency pair: last week, this cross declined by 293 pips to reach 1.3199. This resulted in a double top formation, which will be confirmed should the pair drop below 1.3132. My forecast has the price breaking out of the B-B channel downwards, followed by a further drop ...