GbpChf has ranged for the last 12 months from 1.16 to 1.22. It was a great period for ranging startegies and the 3 patterns on daily chart worked as a charm (see below).
recently, the pair has broken the roof top of the range, and market looks on his way for futher bullish price action. The breakout is clear, the pullback has been done already, the previous resitance @1.16 became support.
- Target : 1.28 to 1.33 area
Technical Indi :
- Sentiment traders : Only 13% traders are long at this time --> bullish
- Money Flow : Levels going up --> bullish
- MW : Crossed levels of last W --> bullish
Hints: - GbpUsd has crossed resistance level @ 1.3750 area.