Inside Bar on GBP/CHF

Inside Bar on GBP/CHF

The GBP/CHF currency pair is consolidating after a correction movement in mid-September. The current technical pattern signals a further increase in quotes. Some classical patterns of Price Action, Inside Bar, (H4 timeframe), have been formed in the trading instrument, which at the moment indicate the development of bullish sentiment. The GBP/CHF currency pair is testing the resistance level of 1.23500. We recommend paying attention to this situation.

If the price fixes above 1.23500, GBP/CHF purchases should be considered. The immediate goal for profit taking is 1.24500. In the medium term, the trading instrument may reach 1.25000-1.25500. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.10.03

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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