GBPCHF in short-term shows break of a significant resistance area where the trend line (upper limit of the triangle) coincides with the horizontal level of 1.3305.Currently, the broken zone is a good place to look for signals that the correction that appeared after breakout is completed. The signal can be, for example, changing the sequence of highs and lows to upward, similar to the strategy for Only Bottoms and Peaks. In case of continuation of growth, an important target can be found in the vicinity of 1.3430, from where on 8th December there was a significant sell-off and return to level 1.3305.

I trade on this instrument at  broker XM, which has in its offer more than 300 other assets >>

 

 

Leave us a comment!

Ransquawk