GBPCHF - How to Trade
The market makes every new high lower than the previous one. It gives a signal that probably the price will continue falling. As we have SMA100 not far from the current price, it acts as a strong support line. The breakout below this line will give confirmation of a trend reversal. We will be able to use this breakout as a sell signal with stop orders above the nearest swing high and profit targets at the resistance levels.
MACD and RSI support the downtrend movement.
As for the continuation of the uptrend, the price will have to break the local downtrend line and the resistance zone formed by 1.33000 and 1.33300 levels. It will give us a buy signal with stop orders below SMA100 and profit targets at the resistance levels.
MACD and RSI support the downtrend movement.
As for the continuation of the uptrend, the price will have to break the local downtrend line and the resistance zone formed by 1.33000 and 1.33300 levels. It will give us a buy signal with stop orders below SMA100 and profit targets at the resistance levels.
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