Ransquawk

GBPCHF – most recently when I wrote about this pair “GBPCHF – reaction to resistance. Time for correction?” , I hoped for further declines and the word became flesh … On the chart H4 we see that the price after breaking the support of the triangle turned back and tested it as resistance from the bottom, and the test candle has a long upper wick signaling that the retest is effective. It is probable that further declines towards the nearest support will continue, which is in the area of 1.2815, MACD on D1 is still declining which currently supports the downward scenario.

GBPCHF H4 – price broke out from the triangle and retested it from below

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Ransquawk