Chris Capre’s current live open price action & ichimoku trades: CORN, USDMXN, EURRUB, EURMXN, BIG
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Forex Trade Idea: GBPCHF – Watching Major Support Zone For Buy Setup (daily chart)
Price Action Context
Gaining heavily to end last year and heading into the UK election, the GBP pairs have sold off from the Dec 19′ highs and are starting to offer some potential value plays.
The GBPCHF forex pair is only a couple handles away from a major support zone between 1.2303 and 1.2169 which I’m expecting some longs to be parked and shorts to take some profits.
Trending Analysis
ST bearish but MT neutral – bullish while above the support zone on a weekly closing basis.
Key Support & Resistance Levels
R: 1.28, 1.30
S: 1.2303, 1.2169
Stay tuned to our members market commentary for updates
