Ransquawk

GBP/CHF on the daily interval is becoming increasingly bearish. Although the trend from the end of August remains bullish, after the recent growth there has been a strong correction. It seems that downward movement may develop further. There is currently little left to break the level of minimum from recent days that created local support. Breaking that level should trigger dynamic declines. Looking at a part of the chart in a weekly time frame, you can see that the last growth ended with a pin bar with a very long upper wick. As you can see in this time scale, earlier similar candles correctly suggested declines. We are awaiting for breaking the local support what should be a sign for declines.

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Trader since 2010, previously connected with stocks – he started his FX adventure by speculating in internet exchange offices. Propagator of clean chart analysis, self-development, easy strategies and gradual elimination of trading errors. His main motto: “Look for statistical advantages not for Holy Grail”