GBP/CHF 17.08.2016
Time frame D1
Longterm downtrend , the price has reached horizontal and diagonal supports and formes signal for sentiment change.
Price action signal - Pin Bar at levels of diagonal and horizontal support
Technical indicator
DeM(14) - In over sold zone and turning - positive signal
Sentiment - positive for GBP. After the announcement that Protocol 50 , which will give the start of exiting the EU by UK will be delayed for 2019. The sentiment for british pound are changing to positive.
SL: 1.2350
Alternative scenario - If the price breaks under the horizontal supports and make lower bottom, the negative scenario will be dismissed.
Jr_Trader_B_Arabadzhiev
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