GBPCHF continuation

Dear Dynamic Traders,

Welcome to the start of another trading week. I trust you all had a super weekend. It never ceases to amaze me how much can be packed into 2 days.

Two GBPCHF charts have been posted below for this evening's discussion. The weekly chart shows clearly that the trend is down and has been for some time. Price has produced a beautiful 2 legged extension. After a big move down it did a breather and has hit resistance around the 1.750 mark which also happens to coincide with Fib levels.















The Daily chart shows some more detail. Once price hit the 1.750 mark it bounced down and went into consolidation mode and eventually broke out (down) of the squeeze. MACD kindly produced some signals beforehand too. With the confluences presented on the chart below, I am now looking for a good entry point utilising the filters shared with us by our great "Joda".














Good Trading!
Bijal Shah