British Pound has been falling recently. Apart from shorting GBPUSD, we can look for other GBP crosses to trade. Today I will like to discuss GBPCHF
Big picture planning
Turning points are marked out in high timeframe chart. We can see GBPCHF at resistance
A big 1234 spotted in weekly chart
A head and shoulder Pattern
A day close below 4 weeks low! Possible retracement is marked with boxes high and low. At this zone, for Tflow ®strategy, we keep an eye for possible pt 4 forming
Also caution that the red line may act as immediate support with boxes low.
If the bunch of support is breached, we will really be looking at a big picture and change of trend.