Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

GBP/CHF falling inside minor C-wave

  • GBP/CHF falling inside minor C-wave
  • Next sell target - 1.2490

GBP/CHF continues to fall inside the C-wave of the intermediate ABC correction (2) – which started earlier – when the pair reversed down from the resistance area lying between the pivotal resistance level 1.3140 (which reversed the previous minor correction 4 in July, as can be seen from the daily GBP/CHF chart below) and the upper daily Bollinger Band.

GBP/CHF is expected to fall down further in the active C-wave toward the next sell target at the strong support level 1.2490 (target price for the completion of wave (2), which reversed previous waves 3 and (C) in July and August).


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