GBPCHFCurrently analysis showing a bullish pennant / bullish triangle pattern. Still very hesitant to get in on any GBP for the following reasons:
- Price is too high to start entering
- Major move has already taken place
- High volatility due to Brexit
To be a bull in this situation:
- Wait for confirmation of the triangle break as the price is very close to the apex
- Monitor Brexit developments and parliamentary votes.
To be a bear in this situation:
- Wait for confirmation of triangle break and scalp entry back down to the previous support level.
- Monitor fundaments for any negative Brexit news / Econ data
Both trades have solid target levels.
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