GBP/CHF T-89 Has Been Established at the POC Zone

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Published: Jan 10, 2019, 10:56 GMT+00:00

Hi traders, The GBP/CHF has formed a T-89 pattern within the POC zone. We can also spot a bullish SHS pattern preceding the T-89. A bounce from the

GBP/CHF T-89 Has Been Established at the POC Zone

Hi traders,

The GBP/CHF has formed a T-89 pattern within the POC zone. We can also spot a bullish SHS pattern preceding the T-89.

A bounce from the 1.2495-1.2505 targets 1.2546 and 1.2573. Final target is 1.2610 but it might be achieved only on strong momentum above 1.2675. However, if the price closes below 1.2480 the target will be 1.2442. Generally, the bullish trend is prevailing so a bounce is technically more valid than a drop. ANY Brexit headline might mess up the technicals so pay attention!

(The analysis has been made by ecs.CAMMACD.MTF trading template)