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Tuesday, June 27, 2017

GBP/CHF: Oversold!

GBP/CHF has entered its oversold indication. 

There is an opportunity to retrace and 1.23431 will be the resistance level that will try to hold the pair from moving upward any higher. 

However, GBP/CHF technically will try to move into the yellow area as shown in the following picture.

I just opened a Long Position and I am looking forward to exiting the market at below 1.23431. 

However, shall GBP/CHF reaches 1.22883 then retracement scenario is canceled. I might try to exit the market as soon as possible and will try to get my breakeven point for this open position.