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Daily Forex Update: GBP/CHF

Published 02/27/2014, 04:07 AM
Updated 03/09/2019, 08:30 AM

GBP/CHF continues to rise inside the Pennant chart pattern that was previously identified by Autochartist on the daily charts – as you can see from the following trade opportunity alert for this currency pair. GBP/CHF is expected to break this Pennant and to reach the target level 1.4977 (point B) in the next 4 trading days. Autochartist set the stop-level for this forecast at 1.4716 (point A).This forecast is aligned with the predominant uptrend visible on the daily GBP/CHF charts – and follows the earlier reversal from the 61.8% Fibonacci Correction of the preceding daily upward impulse from December (as you can see on the second chart below).

GBP/CHF

The following daily GBP/CHF chart shows the longer-term view of this pair’s movement:

GBP/CHF Daily

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