GBPCHF it can be a bear trap but it is possible - Very Risky
GBPCHF may be a bear trap, but it is possible
From the previous analysis posted when the price was at 1.1090, we can see that GBPCHF reached the final target.
The price Is testing a strong resistance zone.
We can likely see a bearish wave again. The bearish wave this time is riskier as it is also related with the fundamental perspective from the SNB front that is already changing. So if the bearish wave happens may happen only because of GBP and not to CHF.
As long as the price is still below the structure it can move down more.
A move above the brown zone should push GBPCHF further considering it has been weak for a long time.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
From the previous analysis posted when the price was at 1.1090, we can see that GBPCHF reached the final target.
The price Is testing a strong resistance zone.
We can likely see a bearish wave again. The bearish wave this time is riskier as it is also related with the fundamental perspective from the SNB front that is already changing. So if the bearish wave happens may happen only because of GBP and not to CHF.
As long as the price is still below the structure it can move down more.
A move above the brown zone should push GBPCHF further considering it has been weak for a long time.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Comment:
Previous analysis:
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