Razvan
Short

GBPCHF - The Double Top formation

FX:GBPCHF   British Pound/Swiss Franc
438 25 5
A close under 1.5080 might just send the pound even lower. The base of the top formation is quite strong. We have there a trend line and a very good support. The target of the double top is near the main trend line and at the next support zone.
asv
4 years ago
first target is 1.4980, then might be 1.4880. So 1.47 is very extremе level
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Razvan asv
4 years ago
you are right, 1.5 can also be a good support, but i have just mentioned to double tops full target. thanks for the add.
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asv Razvan
4 years ago
Interesting idea,I'll be following this!
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exploration
4 years ago
Looks like this double top is refusing to go below the break of 1.5080 ... price action is at 1.5178
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Razvan exploration
4 years ago
yep...it is a very good demand zone. This is what the chart said, double top, if the pound falls under that area, then it could look quite bad for it.
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maxto Razvan
4 years ago
yeah, hard bottom for GBPCHF, hard top for GBPEUR @0.795 and @1.2580 for EURUSD
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pher
4 years ago
most likely it will be confirmed tonite. Price is breaking the Ichimoku cloud (1D). t1 : 1.4980 t2 : 1.4880. I like it.
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Razvan pher
4 years ago
it has reshaped in a descending triangle, so it still has potential to break.
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holywooodfx
4 years ago
there is the Double Top here? O_o
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Razvan holywooodfx
4 years ago
I think now, looks more to a descending triangle
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holywooodfx Razvan
4 years ago
I think so too... but not sure that is good time to open new positions now before European Union to Offer Banking Union Plans, Constitutional Court Ruling EMS, GBP Claimant Count Change, haha))
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Razvan holywooodfx
4 years ago
I agree...it will be like a blind date :))...we should wait even if TA looks bearish
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TOM RAIDER Razvan
4 years ago
I am french, sorry for my English. I think GPB will increase during the 3 next months.
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Razvan TOM RAIDER
4 years ago
No worries, from the technical point of view, it still has potential to hit the trend line. What are your views on it? Fundamentals?
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