$GBPCHF 08 Nov 2010

Here is an interesting chart. GBPCHF bounced off the lower channel band, with confluences of Fib extensions and harmonic patterns. I am interested in trading the Long side.

OK, I am going to confuse you with this chart. Go figure.

GBPCHF Bullish harmonic patterns

Bearish view of GBP crosses

We saw a pretty good run of British Pounds crosses recently. However, good things seem to come to an end. I saw bearishness across GBP crosses. Looking at the bigger time frame of GBPUSD (i.e daily and weekly), now might be the time for down trend to resume. For short term trading (1 to 2 day time span),  I am looking at EURGBP Long, GBPAUD and GBPCHF Shorts. Swing trade, GBPUSD is another shouting SHORT to me. 

Here is the….CHART!


You can find my shameless, fatal market calls on Twitter and charts on Chart.ly.