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GBP/CHF Overview 7/31/19

With the Great British Pound being so weak, This pair has been in a free fall since May 2019. To see the tested prices the chart is at now, you have to use the daily chart and look back to 2016. Currently with Brexit still having a "no-deal" even with a new Prime Minister, GBP should continue to slide. the next price to test was a candle rejection and could shoot up from there, the fall from current price to 1.19041 is a total of 171 pips. IF it continues to fall after that, we are looking at the last wick rejection in October 2016 and that price is 1.16485 for 4242 pips. A good entry price for this pair currently could be 1.20804. If a Brexit deal comes about, we could see this start to pick up and move bullish so let's see what happens.

Michael Franz

Michael Franz is the beginner’s educator. He specializes in teaching the basics and making sure students have the knowledge they need to understand what happens in Advanced Technical Analysis.