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GBP/CHF Bounces Up Off of the Lows

GBP/CHF Bounces Up Off of the Lows

Thomas Long, Course Instructor

The GBP/CHF is rallying up off of an all-time low. To many traders this is the environment to look for selling opportunities. The next level of resistance is the December 27th high of 1.48940. A reversal before that level is a solid selling opportunity with a protective buy stop set just above the 1.4900 level. A move up through that resistance is not a change of trend but a hint to be a little patient in identifying the reversal back to the downside.

GBPCHF_body_75296d1294149227-trend-day-gbpchf-104.png, GBP/CHF Bounces Up Off of the Lows

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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