GBPCHF TECHNICAL ANALYSIS ON H4 TIMEFRAME
Publish Date : 2019/10/03 - 07:07

GBPCHF TECHNICAL ANALYSIS ON H4 TIMEFRAME


GBP/CHF is consolidating around the 1.2225 area, which is around the 38.2% – 50% Fib retracement levels on the 4-hour chart.

But wait, are you also seeing a potential bullish divergence after the pair has touched the 200 SMA?

A break above this week’s highs could lead to a retest of GBP/CHF’s previous highs near 1.2450.

If you think that the pound will head lower and trade a downtrend on the lower time frames, though, then you could also wait for a break below the trend line and aim for the 1.2060 and 1.1900 previous areas of interest.

Source:babypips

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