GBPCHF Bearish Outlook

Hello everyone:

As we see from the latest GBPUSD price action, it had the reversal from top already, and we can expect similar bearish move from GBPCHF.

We can see price originally formed a rising wedge reversal, and then strong bearish impulse pushed down.

Naturally price will need to correct, and we see a parallel channel correction with few swing highs and lows.

Latest price gives us an ascending channel on the lower time frame, and price pushed down and formed continuations after.

What we can expect here is,
When price hits the bottom of the parallel channel, either price may break out and continue lower,
or make one more up move to the top of structure, before the reversal from the top.

thank you

評論: