I’ve been thinking about the GBPCHF, because some way or the other, it is correlated with the EURCHF, and you know how it’s been trading in the last months…
But we can take trading decision on one currency pair because of that other currency pair is doing. So, whatever is happening to the EURCHF, it’s not GBPCHF’s fault.
So I’ve been monitoring the GBPCHF and it looks good for longs. In fact, I’m actually looking for long opportunities. Here is the short term chart:
So here is my plan:
- As long as the GBPCHF trades above 1.5193 I’ll be looking for long opportunities
- If the market forms a significant pattern with upward pressure around the ST support level, I’ll be going long.
What do you think?