[Signal] GBPCHF: Delayed Brexit is Positive? Nahh..

GBPCHF
Timeframe: 1D
Direction: Short

Confluences for Trade:
- Stochastic Overbought momentum (1D, H4, H1)
- Price action at Resistance of Parallel Channel
- Price action close to Another Horizontal Resistance Trendline
- Widening gap of EMA
- Fundamentally, uncomfortable to hold a Long GBP position because of Brexit uncertainty; to us, a delay in Brexit transition is still going to be bad for the UK economy as corporates are not going to do any capital expenditure to improve GDP.

Suggested Trade:
Entry @ Area of Interest 1.3045 - 1.3165
SL: 1.3309
TP: 1.2602
RR: Approx. 2.56 (Depending on Entry Level)


May the pips move in our favor! Good luck! :D

*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.

Trade closed: stop reached