GBPCHF - Pull back before melting?

PAIR IN FOCUS: GBPCHF
ACTION: WAIT TO SHORT
HORIZON: MEDIUM TERM

As seen from the chart, price has broken down from a rising tend line, and may pull back to retest it before another leg of bear wave. Looking for a retrace, retest and rejection in the Entry Zone, which also provides a better R:R for this trade set-up. If price rockets through the EZ, you may want to wait out or just skip this set-up. Look for bearish price action in the EZ before any entry. Expect volatility on this pair as it is affected by any Brexit-related news.

The TP level and Stop Loss are indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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