GBP/CHF Trading Analysis (13/09/2024)
The trend is descending. The currency pair is trading in the range between 365 and 135 ЕМА. The upward wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought condition. Bulls are testing the resistance level at 1.1177.
Trading idea:
- Sell when the formation of the descending wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
- Stop-loss at 1.1177 (over the local maximum of the ascending structure).
- Target price levels at 1.1125 and 1.1050.
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