GBPCHF is still trading within a channel and is now approaching the supportive trendline of the ascending channel. This may present bulls with an opportunity to go long on the pair and catch a few pips. However, bulls should be aware that price appears to be forming a potential bearish flag, meaning bears could drive price down below both the supportive trendline and the support zone.
Once price reaches the supportive trendline, traders should closely monitor the pair and wait for the market to give a valid entry.
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Once price reaches the supportive trendline, traders should closely monitor the pair and wait for the market to give a valid entry.
Be sure to follow me for more ideas and analyses. Leave a comment and a like, it is appreciated.
Best of luck traders!