GBP/CHF: About To Make A Massive Decision?

GBP/CHF has been having a long consolidation from 16th Oct. till now 27th Nov.looking at our chart, which is over a month $ 11days. The price gets caught within a bullish rectangle . There is a saying in the Forex market, “the longer it ranges, the harder it breaks.”

Price trading at 1.28192,the next breakout is going to be vital to determine its future direction for at least some weeks. The daily chart shows that the price has been within those two horizontal lines and vertical lines for several weeks.

It has had several bounces and rejections at those two levels. It did not make any significant move towards either side, which could have made a breakout. However, the last two days’ price action suggests that the price may make an upside breakout.

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27 Nov 2019 1:28 pm Posted by admin