GBPCHF: Bearish market condition, short opportunities in play

Since June, the GBPCHF is practically trading in between medium term ranges, once it breaks one range, it trades in another range, offering good trading opportunities. Please take a look at the next chart.

IMPORTANT: Be careful today with the Federal Funds Rate announcement.

My trading plan

As long as the GBPCHF trades below 1.7810, I’ll have a bearish bias and actually will be looking for short trading opportunities. The next long term support level s around 1.7481.

All long signals will be ignored.

Good luck!

Raul Lopez

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Raul Lopez

I’ve been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .