Looking GBPCHF weekly chart, we can see that after Switzerland debacle in January, this pair is in a nice up trend, making HH and HL.


Now it came to a strong monthly horizontal resistance. First test of this resistance was back in February 2011. It was tested then 3 more times, before price dropped in January 2015. Daily chart is showing us bearish divergence.

When moving to 4h chart, we can see that price at the moment is testing resistance at 1.5800. If we will get strong rejection on 4h or daily chart, we could enter short bellow last closed 4h candle. In the opposite case, if resistance will not be rejected strongly, then we can wait for a break out and then retest and long with current up trend.

There is no major red level news ahead of us in future 24 hours neither in UK, neither in Switzerland.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.