Now it's just a debate: if the current up fork is going to hold or fail, as price has crossed it from its upper parallel to the lower one with ease. This market is in a very-long-term down trend, found resistance above 94 and then even below that level. Now it is about to say, whether it's going to stay within the fork or not. It can either turn into an overshoot...
GBPCHF Price has been in a W-uptrend quite some time now. It recently respected W S&R and started a new daily uptrend (last couple of weeks). A few days ago we broke a triple tapped daily trendline. The Trade: Following our earlier projection, we now have a nice confirmation candle*, closing higher then the previous bear candle. This is an ideal spot to take...
Current Trend is upward, losing momentum, so likely the price will not beat previous high and will form a Head and Shoulders pattern. After which the long term downtrend is likely to begin a 2-4 weeks from now. Fundamentals are improving quarter over quarter and year over year so medium-term uptrend continuation is most likely for now.