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 1.3800

  • GBP/CHF reached sell target 1.3800
  • Next sell target - 1.3400

GBP/CHF recently broke though the support level 1.3800, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level accelerated the C-wave of the active intermediate ABC correction (2) from the end of May (which started when the pair reversed down from the resistance zone surrounding the resistance level 1.4600).

GBP/CHF is likely to fall further to the next sell target at the strong support level 1.3400 (low of the previous primary ABC correction ② and the forecast price calculated for the completion of the active wave (2)).

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