informedtrades
Long

GBPCHF Consolidating at Support

FX:GBPCHF   British Pound/Swiss Franc
70 0 1
GBPCHF             is clearly in an uptrend, as the channel on the chart illustrates. We've pulled back 50% from the recent swing low to swing high, and are consolidating at a support level here. This consolidation after a pullback is what intrigues me, and led me to go long at 5245 with my stop at 5200. I'm targeting 5380, the top of the price channel , as the point to take profit and exit.

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