Forex forecast / GBP/CHF / Our expectations
Long-term consolidation, middle-term upward trend. The price reached to the upper part of the channel and couln't managed to break above the resistance. Short-term downward movement, lower tops. Formed reversing figure of the missle-term movement: Head and Shoulders. Break and test of the neckline. Technical indicator: CCI(50) below 0 - the negative sentiment is still onpower. The price is below SMA 50 - negative signal in short-term period.
Alternative scenario: If the price breaks above the neckline, the negative scenario will be dismissed.
SL: 1.3085
Trader Bozhidar Arabadzhiev
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