GBP/CHF Falling Wedge Reversal

Scott Barkley ProAct Traders

Bullish: Currently we are @ 1.2931 in the bottom of a range. IF we can break the wedge, we are looking for a continuation initially to the 0.786 Fibo Target @ 1.3025 and then to the ATR Target @ 1.3040. The average daily true range (ATR) for the pair currently is 85 pips but its 180-day ATR is 106 pips a day.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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