GBP/CHF Decision Zone is Triggered

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

GBP/CHF is at the decision spot. We should see either a breakout or a break below. It will depend on the market momentum.

We have had 4 lower lows which is a sign of a downtrend. However the diving board pattern has been formed. If we see the break of the trend line at 1.2640, the price will be bullish. The first target is 1.2675. However, a rejection down below the 1.2610 pivot point should spark some bearish momentum. Target is 1.2655. Watch for the move and trade the price action accordingly.

The Analysis has been done with the Black Widow system.

Cheers and safe trading,

Nenad

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