FX forecast /GBP/CHF- Weekly / Our expectations:
After the strong start in early 2018, the GBP began to indicate that the bulls were losing strength. Let's look at GBP/CHF on a weekly schedule. The price is in a broad downward trend, currently correcting and reaching strong levels of resistance - 200SMA, 50% Fibonacci correction and horizontal resistance. Price Action - bears pin bar. Supporting Short-a is DeMarker (14), which forms a reverse divergence with the price and points down close to the over-purchase area.
SL: 1.3960
Alternative Scenario: If the price goes above the resistance level and stays there for several bars, the negative scenario will be spoiled and more likely to see a price increase.
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