khansalarehsan
Long

A great opportunity to go Long GBPCHF

FX:GBPCHF   British Pound / Swiss Franc
Friends
Welcome to another FX review this time for GBPCHF .
Today this pair offered a beautiful Bullish engulfing candle, bouncing off the EMA 14 and 21. I expect the move extend to the next major Fibo level.


Here are the reasons for taking this trade. Let me know what you think in the “comment” section and if you found it useful do not forget to “Like” it. Thank you.



1) This is UK 10 Years Gilts, The lower Gilts goes the higher Sterling goes.


See the Green lines representing Time Fibos. Tomorrow is suggested as a turning point and see how many times Gilts attempted to break the support. Tomorrow might be the day or early next week.

2) Same with UK 10 years Bonds




3) UK Yields also formed a wedge and it cannot go any further. If Bonds and Gilts break to the downside this will break to the top side and Pound will appreciate.



4) Pound futures sitting at a falling trend line and today it made a lower low but only by a few pips.




5) FTSE is likely to visit the mid line after the false breakout of the key resistance level .



Now let’s review CHF


1) This is CHF weighted average




2) Another visit of the support for CHF futures




3) Beautiful SXY false breakout and then breakout into the opposite side.




Thanks for visiting this post,

KHAN

Comment:

Comments

politics took this lower than anticipated i am still long as i entered this a while before
Reply
Very infrmative i agree with everything
Reply
Im in this one! Good to see were on the same page Mr. Khan!
Reply
mr k !

hope you are well

love it when analysis matches a idea you see




been on this and eurchf for a while starting to move with the chf breakdown now nicely
Reply
ahmir ahmir
@ahmir,

also eurchf the break of 6500 is key should see a move to the area highlighted

Reply
@ahmir, Well spotted mate. Great job. I am good, hope you are well too ;)
Reply
ahmir khansalarehsan
@khansalarehsan, yes all good - chf index against the majors is what i thought was on the verge of a breakdown -and it finally is doing it - only regret is not taking the others aswell - oh well - great analysis as always mate - i will sleep easier now lol
Reply
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