Hello friendsβ€οΈ
#GBPCHF
πNew forecast
GBPCHF has broken out of the upward channel,β€΅οΈ indicating a potential shift in the trend. Notably, the price has also broken the π key level of 1.14000, which had held the price above for two months.
Furthermore, a reversal pattern known as a πΏ head and shoulders formation has emerged, and the price has recently broken through its neckline,π providing bearish confirmation.β Given the fake breakout on the daily timeframe, I anticipate an impulsive decline π» may be imminent. I expect the price to retest the resistance zone follwed a π» bearish move.
π―My goal is to support level around 1.11210
#GBPCHF
πNew forecast
GBPCHF has broken out of the upward channel,β€΅οΈ indicating a potential shift in the trend. Notably, the price has also broken the π key level of 1.14000, which had held the price above for two months.
Furthermore, a reversal pattern known as a πΏ head and shoulders formation has emerged, and the price has recently broken through its neckline,π providing bearish confirmation.β Given the fake breakout on the daily timeframe, I anticipate an impulsive decline π» may be imminent. I expect the price to retest the resistance zone follwed a π» bearish move.
π―My goal is to support level around 1.11210
TradingView
Lingrid | GBPCHF Head and shoulders PATTERN. Short for FX:GBPCHF by Lingrid β TradingView
FX:GBPCHF has broken out of the upward channel, indicating a potential shift in the trend. Notably, the price has also broken the key level of 1.14000, which had held the price above for two months. Furthermore, a reversal pattern known as a head and shouldersβ¦
Hello friendsβ€οΈ
#GBPCHF
πNew forecast
GBPCHF is currently making lower lows, π» indicating a bearish trend. Recently, it reached the 50% retracement level on the daily timeframe and is now near significant resistance at 1.12500, β¬ along with the upper border of the channel. The price action has been in a consolidation zone π since April but it has broken through it.
Currently, the market is pulling back β€΄οΈ to retest the lower border of that consolidation zone. I believe we are witnessing a classic π breakout-pullback-continuation scenario. The last two daily chttps://s3.tradingview.com/snapshots/7/7GbZvygm.pngandles are doji candles, suggesting indecision in the market. If the price breaks below the lows of those doji candles, we could see an β‘οΈ impulsive leg down, confirming the bearish sentiment.
π―My target is support level at 1.09875
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πLeave a commentπ
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πTOP Broker
π°Join my PRIVATE signals
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πSite - Lingrid.org
π©Contact @Lingridβ
#GBPCHF
πNew forecast
GBPCHF is currently making lower lows, π» indicating a bearish trend. Recently, it reached the 50% retracement level on the daily timeframe and is now near significant resistance at 1.12500, β¬ along with the upper border of the channel. The price action has been in a consolidation zone π since April but it has broken through it.
Currently, the market is pulling back β€΄οΈ to retest the lower border of that consolidation zone. I believe we are witnessing a classic π breakout-pullback-continuation scenario. The last two daily chttps://s3.tradingview.com/snapshots/7/7GbZvygm.pngandles are doji candles, suggesting indecision in the market. If the price breaks below the lows of those doji candles, we could see an β‘οΈ impulsive leg down, confirming the bearish sentiment.
π―My target is support level at 1.09875
βββββββββββββββ
πLeave a commentπ
βββββββββββββββ
πTOP Broker
π°Join my PRIVATE signals
ββββββββββ
πSite - Lingrid.org
π©Contact @Lingridβ
TradingView
Lingrid | GBPCHF breakout followed by PULLBACK and Continuation for FX:GBPCHF by Lingrid β TradingView
FX:GBPCHF is currently making lower lows, indicating a bearish trend. Recently, it reached the 50% retracement level on the daily timeframe and is now near significant resistance at 1.12500, along with the upper border of the channel. The price action hasβ¦