I was watching GBPCHF last Thursday, when the correction of the impulse, which led to the breaking out of the triangle formed in the 1-hour chart, began. In addition to the triangle, the horizontal level around 1.33 was also important at that time. Correction and re-test of the broken resistance area, which turned into support, was a good opportunity to look for buying opportunities with a goal at 1.3430.
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As can be seen in the chart below, this goal was achieved quite quickly, and now another correction in the upward trend started to take place. Therefore, you can continue to look for opportunities to buy and to join the trend.In case of continuing growth after correction, the bulls will have to overcome the area extending from 1.3430 to last year’s maxima at 1.3468.
