david03kimo
Long

GBP under bad news but getting stronger than others

OANDA:GBPCHF   British Pound / Swiss Franc


GBP under bad news but getting stronger than others by daily currency strength.

You can see GBP is climbing while others falling.

Comments

What is your forecast
My view is shown below
Reply
david03kimo martinbrits28
@martinbrits28, So you think the GBPCHF will go up above the median of the channel and retest 40MA?Maybe.I shorted the GBPCHF by 2m reversal,reflection of daily fibornacci 0.618,and weekly downtrend apparently.And I guessed last week upward might change to downward this week.But I am curious about the risk of GBP getting strong and asking why.Maybe to retest the 40MA is the why.
Reply
martinbrits28 david03kimo
@david03kimo,
It is not certain if it will go up above the median the first time around.
The 1hr chart is bearish which suggests it may be rejected on the first attempt (See below)
For a LONG i will first wait for the median to be bridged and re-tested.
Reply
david03kimo martinbrits28
@martinbrits28, Seems your analyst reasonable.I still hold the short position and wait.
Reply
martinbrits28 david03kimo
@david03kimo, Good luck ...
+1 Reply
david03kimo martinbrits28
@martinbrits28, stoped.and seems GBP still strong.I'll keep watch if cross over the median.
Reply
david03kimo martinbrits28
@martinbrits28, It seems GBP is much strong than I thougt.Let's wait and see it move south.
Reply
martinbrits28 david03kimo
@david03kimo, Jip - It is quite strong. Let's see how it plays out
Reply
david03kimo martinbrits28
@martinbrits28, It seems GBP became weak several hours ago and breaking down the trendline.Some analysis turn to short.
Reply
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