GBPCHF continuation

Good Evening Dynamic Traders,

The Loonie mentioned last night, rallied in excess of 200 pips today, reached the 1.200 mark and retraced. The daily chart stands with a bullish engulfing candle in between a trendline and a support line.

Below are 3 charts on the GBPCHF. Although I have picked this pair please note that there is news out tomorrow on the GBP and it is anticipated that there will be an interest rate cut so trade with caution.

The daily chart shows a trendline and the next resistance that price is approaching. The main indicators show strength in the current uptrend, therefore price should look to continue its journey up.

The 240 chart shows the value index acting as resistance and MACD divergence.
Finally, the 15 minute chart, displays resistance and trendline support. If price breaks the resistance (which has been tested twice so far) then a good set up may be created by a BOB.

Risk free trading

Bijal Shah