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 reached sell target 1.4000

  • GBP/CHF reached sell target 1.4000
  • Next sell target - 1.3800

GBP/CHF continues to fall inside the minor impulse wave C, which belongs to the medium-term ABC correction (2) from the end of May. Pair earlier broke the daily up channel from April (which encloses the previous impulse  wave (1)) and the support level 1.4000 (which was previously set as the sell target for this currency pair). The breakout of the support level 1.4000 intensified the bearish pressure on this currency pair.

GBP/CHF is likely to fall further to the next sell target at the support level 1.3800 (low of the previous minor correction 2 from May and the target price for the completion of the active correction 2).

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