The GBPCHF bounced from the horizontal support at 1.6564 which was also a pullback to the 0.382 fibo speedline. The 30m timeframe has provided a buy signal with breaking the trendline of the pullback which is supposedly a 2 wave down bullish flag. The bullish pin bars showing failures to breach the horizontal support are backing up the buy signal.
GBP/CHF: pullback to 0.382 fibo fan line
This entry was posted on Monday, August 9th, 2010 at 3:40 pm and tagged with fibonacci, GBPCHF and posted in analysis. You can follow any responses to this entry through the RSS 2.0 feed.
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