GBPCHF - LIKELY TO REMAIN RANGE BOUND
Symbol - GBPCHF
CMP - 1.1388
The GBPCHF pair has been consolidating within a range for the past 6 months, and it is expected to remain within this range for some time. Currently, the pair is testing the upper resistance zone of this range, which has acted as a cap on price movements. As a result, I expect the price to fall back within the range from here.
Trader's focus should be on the price action near the resistance zone. Given that the pair is currently at a critical point, it offers a good opportunity for a short trade as the risk-reward ratio is very favorable. A rejection from this resistance could see the price moving lower, providing an opportunity for traders looking for a pullback within the range.
If the price breaks above 1.1400 - 1.1410 and sustains above this level, the market outlook will shift. In that case, we may witness a breakout of the current range, with bullish momentum potentially taking over.
Resistance levels: 1.1400, 1.1375
Support level: 1.1270, 1.1215
Given the current resistance and the likelihood of a reversal within the range, the short trade setup offers a solid potential for a good profit. However, any decisive break above 1.1400 will change the market structure, signaling a potential shift to bullish momentum.
CMP - 1.1388
The GBPCHF pair has been consolidating within a range for the past 6 months, and it is expected to remain within this range for some time. Currently, the pair is testing the upper resistance zone of this range, which has acted as a cap on price movements. As a result, I expect the price to fall back within the range from here.
Trader's focus should be on the price action near the resistance zone. Given that the pair is currently at a critical point, it offers a good opportunity for a short trade as the risk-reward ratio is very favorable. A rejection from this resistance could see the price moving lower, providing an opportunity for traders looking for a pullback within the range.
If the price breaks above 1.1400 - 1.1410 and sustains above this level, the market outlook will shift. In that case, we may witness a breakout of the current range, with bullish momentum potentially taking over.
Resistance levels: 1.1400, 1.1375
Support level: 1.1270, 1.1215
Given the current resistance and the likelihood of a reversal within the range, the short trade setup offers a solid potential for a good profit. However, any decisive break above 1.1400 will change the market structure, signaling a potential shift to bullish momentum.
Trade attivo
CMP 1.1320
Short position +68 pips in profit.
Holding with CTC SL now.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.