Declines after a failed attack on top at 1.2913 led GBPCHF pair close under Bollinger Bands what is seen on H4 chart. Have had already formed a local low at 1.2679 and currently we have an upward correction.
The end of the said adjustment and overcoming this local low can be an opportunity to take short positions / purchase options PUT. The nearest target with this scenario is 200 percent extension of the recent declines, which is in the area of 1.2467.
Possible safety position (stop loss) should be higher than local high, according to the strategy Bollinger Bands # 3A. Important is that before overcoming the last low price cannot close over lower band of Bollinger Bands.
Test account with a broker binary options uTrader! Click here to invest
Binary options broker uTrader offers a return. If you win your account will increase by a percentage of the invested amount. If you lose, regardless of the size of the defeat, you never lose more than you bet.
