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theforexportal
Apr 15, 2017 11:15 AM

GBPCHF looks to be weakening Short

British Pound/Swiss FrancFXCM

Description

The last 3 days have seen 3 indecision doji candles suggesting the BULLS are running out of strength.
As long as we remain above the 200 on the DTF we must assume we are still in an uptrend but with RSI weakening, a move back to support must be favourite.
I'll be looking for a move down to 1.25 in the next trading week and see if support here holds. With political tensions increasing, a flight to the CHF seems likely so GBPCHF is likely to come under pressure.
SELL down to 1.25 and see where we go if we move down there. If 1.25 fails then a move to 1.2430 is possible.
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