If you have gone through the commentary on the last 7 currency pairs I have analyzed and published this weekend you should have a good understanding of how I analyzed this currency pair.
This currency pair is in a major trading range and is moving between major support and major resistance. This currency has last bounced off major support and is now headed to test major resistance. The latest monthly candle shows a tall upper wick indicating this month this currency pair moved too far too fast and is now correcting for its overbought status. Once the corrective move is complete this currency pair should continue upward to test major resistance.
The next thing I do in my analysis is to move to the daily or 4 hour time frame to look for trade setups.
Note: GBPCHF is one of the 10 most volatile currency pairs. I am very interested in analyzing these 10 pairs for entry opportunities as they can provide the best money making opportunities.
This currency pair is in a major trading range and is moving between major support and major resistance. This currency has last bounced off major support and is now headed to test major resistance. The latest monthly candle shows a tall upper wick indicating this month this currency pair moved too far too fast and is now correcting for its overbought status. Once the corrective move is complete this currency pair should continue upward to test major resistance.
The next thing I do in my analysis is to move to the daily or 4 hour time frame to look for trade setups.
Note: GBPCHF is one of the 10 most volatile currency pairs. I am very interested in analyzing these 10 pairs for entry opportunities as they can provide the best money making opportunities.