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Coleman: GBPCHF showing 5 signs of aggressive downside correction

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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
  
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