GBPCHF H4 Analysis

8. Juli 2020

The GBPCHF chart has clearly created an inverted head & shoulders pattern, with an uptrend potential. As GBP pairs are gaining strength recently, it only seems evident that the trend will continue. The first target (TP1) is about have the size of the pattern, while the second (TP2) is roughly the full size of the head. The SL level is placed just down below the shoulder; in case it breaks it, the trend would've been denied. Hence, the trade would be executed as follows:
GBPCHF
BUY: 1.18250
SL: 1.17250
TP1: 1.19250
TP2: 1.20250