Technician

GBPCHF: Interesting Zone #forex

FX:GBPCHF   British Pound / Swiss Franc
1386 views
57
1386 3
The price has retraced back towards the long term rising channel support, which was broken earlier, and turned to a resistance now.
The recent shorter term pullback is taking the shape of an inverted head and shoulders bottom formation. Interestingly, the neckline of the formation coincided with the main broken channel in addition to the 50-days simple moving average and the falling trend line for the overall bearish wave started from 1.3855 high.

Shorting looks appealing to me at this area, with a stop and reverse order above this area.
For More Trade Setups and Tutorials: https://theforexchannel.com
Good Morning! I wanted to ask your opinion about the weekly chart. Are you looking at the weekly 50 SMA as a major point of resistance in your analysis? I'm using the weekly and the daily chart in my analysis.
Reply
Sir, how do u see this developing?
Reply
I love your charts ,Technician

Thanks
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out