GBP/CHF

This was a SL hit.
update:

Update: trade succedeed

Any ideas for GBPCHF? Possible retracement now?

Looking for sell trade. Price comes to Daily resistance area, divergence in H1 too.

Result

the plan for today

GBP/CHF holds marginal gains, upbeat UK CPI buoys pound

GBP/CHF chart - Trading View Spot Analysis: GBP/CHF was trading 0.32% higher on the day at 1.2764 at around 08:15 GMT Previous Session's High/Low: 1.2790/ 1.2717 Previous Week's High/Low: 1.2820/ 1.2587 Fundamental Overview: Stronger UK CPI underpinned the British pound and supported the pair higher Latest UK consumer inflation figures showed that the headline CPI rose 1.5% YoY in April as against 1.4% expected and 0.7% previous. The pound ignores Brexit woes and remains bid as BOE policymakers reject any immediate risk to the current policy outlook. Technical Analysis: - GBP/CHF has bounced off 200W MA and is set to resume upside - Price action is consolidating above 55-EMA support and weakness only on break below - GMMA has shown a bullish shift on the intraday charts, the pair is holding above 200H MA - Pullbacks in the pair has failed to break below cloud support Major Support and Resistance Levels: Support: 1.2713 (21-EMA), 1.2684 (55-EMA), 1.2581 (Lower BB) Resistance: 1.2791 (Upper BB), 1.2797 (55-month EMA), 1.3126 (Upper M BB) Summary: GBP/CHF is extending sideways ahead of the next move higher. Price action is within the daily cloud and the breakout above will propel the pair higher.

GBP/CHF Daily Outlook

GBP/CHF chart - Trading View Technical Analysis: Bias Neutral - GBP/CHF was trading 0.07% lower on the day at 1.2725 at around 11:15 GMT - Price action is extending sideways along with 21-EMA support - The pair is trading within the daily cloud, Chikou span is flat - Oscillators are flatlined and do not provide a clear directional bias - GMMA indicator shows major and minor trend is neutral - Pullbacks have been contained at cloud base Support levels - 1.2711 (21-EMA), 1.2685 (55-EMA), 1.2654 (Lower BB) Resistance levels - 1.2742 (200H MA), 1.2789 (Upper BB), 1.2796 (55-month EMA) Summary: GBP/CHF is extending sideways grind along with 21-EMA support. Technical indicators do not provide a clear directional bias. 55-month EMA is stiff resistance on the upside. Further gains only on decisive break above.

GBP/CHF bounces off 55-EMA support, outlook turning bullish

GBP/CHF chart - Trading View GBP/CHF was trading 0.28% higher on the day at 1.2753 at around 12:15 GMT, outlook turning bullish. Upbeat UK Retail Sales and mixed UK PMI prints fail to impress bulls or provide any impetus. Uncertainty over the post-Brexit agreement on Northern Ireland keeps a lid on any meaningful upside for the pair. Technical bias is turning bullish. Price action has bounced off 55-EMA support and looks set to extend upside. Price action has retraced dip below 200H MA and is on track to close in the green for the 2nd straight week. Oscillators have turned higher. RSI and Stochs are now biased higher. Pullbacks have been contained at the cloud base. Support levels - 1.2687 (55-EMA), 1.2585 (Lower BB), 1.2549 (110-EMA) Resistance levels - 1.2796 (Upper BB and 55-month EMA), 1.28, 1.3073 (April high) Summary: GBP/CHF is extending sideways grind along with 21-EMA support. Technical indicators are turning slightly bullish. 55-month EMA is stiff resistance on the upside. Further gains only on decisive break above.

Cycle Analysis of GBPCHF :

Attempting a sell from 1.2705 to 1.2660x to test the 90 ema on the 4H.

GBPCHF has been bearish in the H4 chart. The price found its resistance at an uptrending trendline, which pushed the price towards the North earlier. The chart shows that the price produced two consecutive H4 bearish candles followed by a bullish inside bar. The next candle came out as a bearish candle. Since then, the price has been heading towards the South. It may find its next support around 1.26000.

As we expected, the pair made a bearish move and found its support around 1.26000. The buyers may look to go long in the pair. The H4 chart shows that there is enough space for the price to travel towards the North. It may find its resistance around 1.27000. If we look at the H4 chart closely, the pair may end up producing an Inverse Head and Shoulder if it breaches the level of 1.27000.

GBPCHF made an explicit breakout at 1.26000. The H4 chart shows that the price has been heading towards the downside with extreme bearish momentum. The sellers may look to go short in the pair. The buyers must wait for the price to make a strong bullish reversal to be able to find long opportunities. Meanwhile, it is all about the Bear's domination.

The pair has been extremely bearish in the H4 chart. It made a significant breakout at 1.24000. The price has been having a consolidation. It may make a bullish correction. If the price produces a bearish reversal pattern at 1.24000, the sellers may go short in the pair again and drive the price towards the South. The price may make a new lower low and find its next support around 1.21200.

GBPCHF after being very bearish had a bounce at 1.22870 and made a bullish correction. The price found its resistance and headed towards the South again. As of writing, the pair is trading around the level of 1.22870. If the pair produces a bullish reversal, the buyers may push the price towards the North. The price may consolidate around the level of 1.24000. If the level of 1.24000 gets broken, the bull may dominate in the pair.