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it should be mentioned that the bounce produced a lower high than the previous one. Because of this, we are expecting this pair to fall hard in the near future. In the mean time, we are selling rallies of any substantial amount, as well as selling a daily close below the 0.8000 level.
the chart and as we can see on it is showing the pair has succeeded in closing it's daily candle above level 1.3900 , and that's mean the up trend is still standing and the pair might head to 1.3970 and then 1.4000
If a M15 close above 1.4000 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.3900 sell only and do not buy. If price closes back above it again do nothing
The range 1.4000 and 1.3900 is neutral area, any trade done in between is personal decision and not part of this analysis
the trading now above the level of 1.3900 will make the uptrend expected and the pair might continue in it's upmovements heading to 1.4000 and then 1.4030 and that's before bouncing from the resistance levels
If a M15 close above 1.4000 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.4000 sell only and do not buy. If price closes back above it again do nothing
The range 1.4000 and 1.4000 is neutral area, any trade done in between is personal decision and not part of this analysis
the pair and as we can see from the chart has closed it's daily candle under the level of 1.4000 , so , that's mean the down trend is still standing and the pair is heading to 1.3965 then 1.3935
The sterling has been two-face as it was the mover last week with it's strength. This week it stood out with bearish bias as other currencies ranged.
we are also keeping an alternate count that the wave 5 is a diagonal triangle and may extend one more fall to 1.4500 but reckon 1.34200 would hold.
The sterling has been two-face as it was the mover last week with it's strength. This week it stood out with bearish bias as other currencies ranged.
The GBP/CHF has maintained a well defined descending channel formation since the start of April as haven flows continued to support the franc.