GBP/CHF:
Date: 22 December, 2016
H4 Graph: Long term short trend, End of correction
Price created a top formation at 1.28900 and then after several attempts to break above, was not able to.The horizontal resistance stays intact. Price started going down and formed 3rd lower high and it remains below 50 EMA.
DEM (14) - in the overbought zone
Alternative scenario: If the price move higher and moves above the diagonal resistance or above the previous high, this will cancel the bearish view.
Price for Entry short around: 1.26800
SL: 1.27500
Jr. Trader - S. Fuchedzhiev
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