GBP/CHF longs

Jul 4, 2021

I'm looking to long this pair upon market open this evening. I've been scanning the charts for potential setups to execute this week and I've stumbled across this short-term buy opportunity on GBP/CHF. The very first thing that I noticed on this pair when I initially checked the D1 timeframe, was the sheer amount of rejection to the upside. As you can see with my forecast, I am expecting bear presence this week. I anticipate a sell-off from the area of supply later this week, but for now, price is in a relatively desirable area to buy. Targeting 33 pips, risking just 12. 1:2 R:R.