GBPCHF has for the last month and a half been trending bullish due to a strong demand price level on the daily chart .Im rather neutral on the future play of the pair i've noticed a bearish flag on the daily and my 20 & 50 ema are ready to cross signaling bearish momentum on the 4 hour time frame .
I need further confirmation for a bearish trade. Another interesting factor is the filling of the Gap on the daily timeframe by a breakout which has lead to a minor reversal causing the pair to test its previous resistance now support. If the pair trades on a gap up monday we could see the bearish signal as null and void.
If it fails to break the 1.30400 demand priceline & my 20 ema on the daily, I will be looking to go long immediately after a daily close above 1.31500 (Risky)or 1.335 (Safe) .Please note the previous priceline's as potential reversal points, so a reversal may not be out the picture.
So sit back and wait for either scenarios to take place.
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I need further confirmation for a bearish trade. Another interesting factor is the filling of the Gap on the daily timeframe by a breakout which has lead to a minor reversal causing the pair to test its previous resistance now support. If the pair trades on a gap up monday we could see the bearish signal as null and void.
If it fails to break the 1.30400 demand priceline & my 20 ema on the daily, I will be looking to go long immediately after a daily close above 1.31500 (Risky)or 1.335 (Safe) .Please note the previous priceline's as potential reversal points, so a reversal may not be out the picture.
So sit back and wait for either scenarios to take place.
Don't forget to like and share
Telegram link on my bio
Killing 2 birds with one stone.
GBPJPY=GBPCHF