GBPCHF - Daily Overview and Update on Sell Opportunities (Daily)

GBPCHF is in what seem to be the last moments of it's medium term correction. Looking for more downside in the coming months, making an excellent trading opportunity. Having said that, and having monitored the pair closely in all of it's corrective phases, we are currently looking for new short opportunities. To be more precise, looking at the daily timeframe, the pair seems to be in an ending diagonal type of formation, which is a clear signal that the upward corrective movement is about to die. We are already in the sell with a minor position, but we are looking into adding new short positions on the confirmation of the downside, which we will have only on the break of the lower trend line of the aforementioned ending diagonal-type structure (Please refer to our 4hr timeframe analysis for more details).

Let us remind you the incredible targets, of the coming trade to the downside:
First target on the break of the daily low in the 1.40 area, and final expected target in the 1.048 area.

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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).

Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.

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