Inside Bar on GBP/CHF

Inside Bar on GBP/CHF

The GBP/CHF currency pair has become stable after a rather continuous rally. The current technical pattern signals a possible correction. A classic pattern of Price Action, Inside Bar, (H4 timeframe), has been formed in the trading instrument, which is currently the reversal formation. At the moment, the GBP/CHF quotes are testing a “mirror” support level of 1.22900. We recommend paying attention to this situation.

If the price fixes below 1.22900, GBP/CHF sales should be considered. The immediate goal for profit taking is the round level of 1.22000. In the medium term, the trading instrument may reach 1.21100-1.20400. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustMarkets, 2019.09.23

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.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Natural Gas Pricing Factors
The balance between supply and demand primarily influences natural gas prices. When demand for natural gas increases and supply cannot keep up, prices tend to rise.
Read more