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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.2985 to 1.3105). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.2985)
  • Ending of entry zone (1.3105)

DateSeptember 11, 2021 - 11:59
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.28550 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 1.2460 on 08/23/2021, so more gains to resistance(s) 1.2745, 1.2820 and maximum to Major Resistance (1.2855) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 59.

Take Profits:

  1. 1.2577
  2. 1.2460
  3. 1.2325
  4. 1.2220
  5. 1.1600
Click on the level to view price action history.

Symbol Released Current Forecast
British Pound / Swiss Franc (GBPCHF) new Sun, 17 Mar 2024
British Pound / Swiss Franc (GBPCHF) Sun, 10 Mar 2024
British Pound / Swiss Franc (GBPCHF) Sun, 3 Mar 2024
British Pound / Swiss Franc (GBPCHF) Sun, 25 Feb 2024
British Pound / Swiss Franc (GBPCHF) Sun, 18 Feb 2024