• FxWirePro: GBP/CHF forms triple top at 1.3470, good to sell on rallies

    Source: FxWire Pro - Technicals / 24 Jan 2018 04:56:09   Eastern Standard Time

    • Chart pattern- Triple top.
       
    •  Major resistance- 1.3470
       
    • GBP/CHF has jumped almost 325 pips from the minor bottom at 1.3135 formed on Dec 29th 2017. The pair formed almost triple top around 1.3470 and started to decline from that level.
       
    • On the higher side, any major bullishness can be seen only above 1.34700 level. Any break above will take the pair to 1.350/1.3580 (127.2% fibo).
       
    • The near term support is around 1.3374 (5- day MA) and any break below will drag the pair till 1.338/1.3300. The minor weakness can be seen below 1.3280.

    It is good to sell on rallies around 1.3405-410 with SL around 1.3470 for the TP of 1.3300/1.3280.