• Vasily Trader

GBPCHF: Potential Structure Trade

Hey traders,

GBPCHF is trading in a bearish trend since April.

Setting a new structure low in August, the price retraced.

For the last two weeks, we see a sharp bullish rally.

Yesterday the price reached 1.28 key daily structure resistance .

A trend-following move may initiate from that.

To catch it, on focus is a rising channel on 12H chart.

Wait for its bearish breakout (candle close below its support) & then sell aggressively or on a retest

with your safe stop lying above the highs of the channel.

Next support will be 1.261

In case of a bullish breakout of the underlined red structure,

further bullish continuation will be expected.