VasilyTrader

GBPCHF: Potential Structure Trade 🇬🇧🇨🇭

Short
OANDA:GBPCHF   British Pound / Swiss Franc

Hey traders,

GBPCHF is trading in a bearish trend since April.
Setting a new structure low in August, the price retraced.
For the last two weeks, we see a sharp bullish rally.

Yesterday the price reached 1.28 key daily structure resistance .
A trend-following move may initiate from that.
To catch it, on focus is a rising channel on 12H chart.
Wait for its bearish breakout (candle close below its support) & then sell aggressively or on a retest
with your safe stop lying above the highs of the channel.

Next support will be 1.261

In case of a bullish breakout of the underlined red structure,
further bullish continuation will be expected.

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Comment: Watch my new video on NZDUSD: