Anton Eljwizat – The GBP has dropped significantly versus the CHF in the past 3 weeks, and it is currently traded around 157.35. And now as evident in the data below, the 4-hour chart is giving bullish signals, indicating that GBP/CHF pair might go up. Forex traders can take advantage of this impending movement by having their Entry Orders in place to capture this reversal.
• Below is the 4-hour chart of the GBP/CHF currency pair.
• The technical indicators that are used are the William Percent Range and Slow Stochastic.
• Point 1: The Slow Stochastic indicates an impending bullish cross, signaling that the next move may be in an upward direction.
• Point 2: The Williams Percent Range has peaked near at the -100 marker, which means that there may actually be a strong level of upward pressure.
• The volatile downward movement which occurred prior to this upward correction has generated these indicators, and there appears to be room for this correction to continue.
GBP/CHF 4-Hour Chart
Forex Market Analysis provided by ForexYard.
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