Hello Traders,
Alas…
The last trading day of the week and month is almost here.
The setups we are going to look at are half baked because we still need confirmations in order to ascertain their next move.
Let’s check them out.
1. GBP/CHF
Finally, on the GBP/CHF we can see a support (1.25349) breakout or what we could also call a support breakout on a head and shoulders pattern.
A pullback will most likely be expected before price continues to its next possible support level (1.23533).
2. GBP/JPY
An ascending channel can be spotted on the daily chart of the GBP/JPY.
Price is currently testing support level 141.285. If we do get a confirmation of a reversal, price next resistance level would be 143.410 and a breakout of the present support level may most send price falling to 139.363 as the next possible support level.
For both setups, the close of the daily candlestick MAY assist in our confirmation. However, if that doesn’t play out, these setups should make good trades for the month of March.
Join us again on Sunday for another weekly analysis of your favorite pairs.
Do have an awesome weekend ahead.
