GBP/CHF T-89 Has Been Established at the POC Zone

GBP/CHF T-89 Has Been Established at the POC Zone

Hi traders,

The GBP/CHF has formed a T-89 pattern within the POC zone. We can also spot a bullish SHS pattern preceding the T-89.

A bounce from the 1.2495-1.2505 targets 1.2546 and 1.2573. Final target is 1.2610 but it might be achieved only on strong momentum above 1.2675. However, if the price closes below 1.2480 the target will be 1.2442. Generally, the bullish trend is prevailing so a bounce is technically more valid than a drop. ANY Brexit headline might mess up the technicals so pay attention!

(The analysis has been made by ecs.CAMMACD.MTF trading template)

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.