khansalarehsan

A great opportunity for Shorting GBPCHF

Short
FX:GBPCHF   British Pound / Swiss Franc
GBPCHF is reaching 1.30643 a major Fibo level and the mid-band of a pitchfork on a daily Timeframe . Plus I have the following reasons for Shorting GBPCHF:
1) Weighted average GBP just reached to the mid-band of the pitchfork and now it is acting as a major resistance
2) Today we have had a massive drop in UK Yields but we have not seen this depreciation in GBP plus UK Yields just visiting the lower band of an old pitchfork . This pullback soon has to be shown in Sterling crosses

3) CHF weighted average Weekly just bounding off the most recent Wedge formation.

Dr. Ehsan Khansalar