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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 Buy Zone (1.05849 to 1.04237). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.05849)
  • Ending of entry zone (1.04237)

DateFebruary 20, 2023 - 11:24
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.08950, resumption of uptrend is expected.
  • We make sure when the resistance at 1.15573 breaks.
  • If the support at 1.08950 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 1.12265 on 02/15/2023, so more losses to support(s) 1.10900, 1.09905 and minimum to Major Support (1.08950) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Take Profits:

  1. 1.09905
  2. 1.10900
  3. 1.12064
  4. 1.12998
  5. 1.14177
  6. 1.15573
  7. 1.17204
  8. 1.18984
  9. 1.20076
  10. 1.22953
  11. 1.24464
  12. 1.25975
  13. 1.28095
  14. 1.34200
Click on the level to view price action history.