SaxoTV

Coleman: GBPCHF showing 5 signs of aggressive downside correction

481 views
March 12, 2015 chf, chf rates, forecast, foreign exchange, foreign exchange market, foreign exchange strategy, forex, forex 2014, forex 2014 outlook, forex and more, forex aud, forex audusd, forex buying, forex eurusd, forex exchange, forex gbpusd, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex strategy, forex trade idea, forex trade ideas, forex trading, forex trading 2014, forex trading 2015, forextrading, forward guidance, fotrex, fx, fx award, fx changes, fx crosses, fx eurjpy, fx exchange, fx forex, fx gbpusd, fx interbank markets, fx investing, fx market, fx markets, fx options, fx pound, fx regulation, fx saxo bank, fx spot, fx sterling dollar, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx tradinging, fx trends, fx volatility, fx volatitily, fxallocationmodel, fxfx, fxmarkets, fxmonthly, fxoptions, fxspot, fxtrade, gb, gbp, gbp eur, gbp falling, gbp trading, gbp trading 2014, gbp usd, gbp weakening, gbpchf, gbpeur, gbpeur 2014, gbpusd, gbpusd 2014, gbpusd labour day, gbpusd record high, gbpusd trade idea, saxo tv, tradingfloor.com
Ian Coleman has spotted five signs that he believes suggest an aggressive downside correction in GBPCHF.

The pair has recovered around 90% of the losses since the Swiss National Bank removed the euro link in mid January and Ian has noted the following key signals:     
Pair now overbought

DeMark highlights an exhaustion count

High volume - yesterday 270,000

Average 150,000

6 hour chart highlights Bearish Engulfing pattern

2 hour chart shows Evening Doji star

Ian is looking to sell a break of 1.5075 

Stop: 15105

Targets: 1.5025 and 1.4960
  
Disclaimer
Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.
Please read our notification on