GBPCHF signals point to relief rally
The market has posted 11 lower daily highs in a row for GBPCHF, but has not extended this trend for almost eight years, since December 2008.
With intraday sentiment much oversold, buyers have returned to the market from close to 1.2500, the Fig for sentiment to recover into Monday's close.
A small daily Hammer has been formed which is positive and points to a temporary rtelief rally.
Management and risk description
Allow room to buy the dip and raise stop to entry if the first target is met
Entry: Buy at market and 1.2548, Friday's low.
Stop: 1.2504, yesterday's low.
Target: 1.2666, last week's Marabuzo line and 1.2771, the September 20 open.
Time horizon: Today only.
— Edited by Adam Courtenay
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