I’m selling the Pound. Take a look at my trade plan for opportunities to sell.

GBPCHF Daily

Market is bearish (55 above 21). Price is at support (MS1) and is bearish (8 above5). Stochastic is oversold. Price opened between MPP and MM2 where bears have been selling. MS2 is the monthly target. First resistance at MM2/1.24000 and MPP/50 fib level/1.25000/55EMA is the second. Support at MS1/1.23000 and MM1/1.22000. I will wait for a retracement to MM2 or MPP before selling the pair.

GBPCHF H4

Market is bearish. Price is at support (WS1) and is bearish. Stochastic is oversold. WS2 is the weekly target. Resistance at WM2/MM2/1.24000 and WPP/1.24500. Support at WS1/MS1/1.23000. I will wait for price to retrace to WM2 before selling. It should be noted that MPP is above WPP.

GBPCHF H1

Price and market are both bearish. Price opened at DPP and has currently exceeded its daily target (DS2/WS1). If I want to short this pair, I will wait for a retracement to these resistance levels; DM2 or DPP/WM2 or DR1/MM2 before selling. Stochastic is oversold.

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