By: Dima Chernovolov

GBP/CHF continues to move inside the 30-minute Up Channel chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Up Channel at the 6-bar level – which is the result of the slow Initial Trend (4 bars), average Uniformity (5 bars) and higher Clarity (8 bars). GBP/CHF is expected to rise further inside this Up Channel – in line with the earlier upward reversal from the support zone shown below.

07022018dailyfximage1

As can be seen from the daily GBP/CHF chart below, the price earlier reversed up from the support zone lying between the key support level 1.3000 (which has been reversing the price from last November), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward price impulse from August.  The proximity of this support area increases the probability GBP/CHF will continue to rise inside this Up Channel.

07022018dailyfximage2

To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.

 

For further information on this and other Autochartist products visit www.autochartist.com

0 Likes
875 Views

You may also like

Leave A Comment

Please enter your name. Please enter an valid email address. Please enter message.

Sign-up





I accept the Privacy policy, Disclaimer and Conditions of this service

* = Required Field