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Is GBP Strength Here To Stay ?
GBPCHF Long 

Wed 14th June 2023 : Daily Forex Price Action

Today we’re looking at Trading Setups in:

  • GBPCHF (Primary Focus Pair)
  • GBPJPY (Covered In Video)
  • AUDJPY (Covered In Video)
  • AUDCHF (Covered In Video
90 Days To Profit Forex Challenge | Charles Clifton Forex Trader - 1-2-1 Forex Trader Training Courses | charlesclifton.co.uk

Primary Focus Pair: Trade Plan & Details

Details:

A strong GBP is one to focus on for us today against the weakening CHF. 

GBP is S3 and CHF is W3 on our live forex strength vs weakness day traders table. 

GBPCHF has been trending higher after breaking through a key trend line resistance level on 31st May at 1.1250.

Most recently price has traded above a key resistance level of 1.1400, suggesting price could continue to resistance between 1.1500-1.1550.

On our hourly trading time frame, we can see price is above a 50 moving average support and the 1.1400 handle. 

Price has also been working within a bullish channel adding further confluence to a move higher. 

If price is to trade higher, these support levels should be respected.

Live Forex Charts - GBPCHF - How to Find A Trending Forex Pair To Trade - Charles Clifton Forex Trader - 1-2-1 Forex Trader Training Courses - charlesclifton.co.uk- 14-06-23