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Weekly forecast British Pound / Swiss Franc technical chart
Symbol GBPCHF

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.2160 to 1.2220). 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 (1.2160)
    • Resistance on 10/10/2016
    • Resistance on 10/11/2016
    • Resistance on 10/12/2016
    • Resistance on 10/20/2016
    • Resistance on 10/21/2016
    • Resistance on 10/24/2016
    • Resistance on 10/25/2016
    • Resistance on 11/03/2016
    • Resistance on 11/04/2016
    • Resistance on 11/07/2016
    • Support on 01/17/2017
    • Resistance on 09/05/2019
    • Resistance on 09/06/2019
    • Support on 09/27/2019
    • Support on 09/30/2019
    • Support on 10/01/2019
    • Support on 03/06/2020
    • Resistance on 03/11/2020
    • Resistance on 04/28/2020
    • Resistance on 04/29/2020
    • Resistance on 04/30/2020
    • Resistance on 05/01/2020
    • Resistance on 09/03/2020
    • Resistance on 11/10/2020
    • Resistance on 11/11/2020
    • Resistance on 11/23/2020
    • Resistance on 11/26/2020
    • Resistance on 12/01/2020
    • Resistance on 01/13/2021
    • Resistance on 01/14/2021
  • Ending of entry zone (1.2220)
    • Resistance on 10/25/2016
    • Resistance on 11/09/2016
    • Support on 01/13/2017
    • Resistance on 01/16/2017
    • Support on 03/14/2017
    • Support on 03/16/2017
    • Support on 08/29/2017
    • Support on 07/22/2019
    • Support on 07/23/2019
    • Support on 09/25/2019
    • Support on 09/26/2019
    • Support on 10/04/2019
    • Support on 10/07/2019
    • Support on 03/02/2020
    • Support on 03/03/2020
    • Support on 03/04/2020
    • Support on 03/05/2020
    • Support on 03/06/2020
    • Resistance on 03/09/2020
    • Resistance on 03/10/2020
    • Resistance on 06/05/2020
    • Resistance on 06/08/2020
    • Resistance on 06/09/2020
    • Resistance on 09/01/2020

DateJanuary 16, 2021 - 21:39
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.22200, beginning of downtrend is expected.
  • We make sure when the support at 1.16000 breaks.
  • If the resistance at 1.22200 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 1.1678 on 12/11/2020, so more gains to resistance(s) 1.2160 and maximum to Major Resistance (1.2220) 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 56.

Take Profits:

  1. 1.2025
  2. 1.1915
  3. 1.1600
Click on the level to view price action history.