FX.co ★ ivory29 | GBP/CHF

The situation on the market for GBPCHF. Comparing the current market price of 1.08840 with yesterday, for which I set the Fibonacci grid. Aligning the high with the 100% fib level (1.09962), and the low with the 0% fib (1.08368). I observe quotes in the range from 0% (1.08368) to 50% (1.09165). My technical analysis shows strong levels in this range, 23.6% (1.08744), 38.2% (1.08977), complementing the 50% level (1.09165), from which one should look for an entry point for selling. If all levels are used, a grid trading method can be applied. Another option is to wait for a pullback to the 50% level (1.09165) and enter from it with a working lot, without splitting. Above the selling range, namely above the 50% level (1.09165), selling should be suspended. It is acceptable to reverse into buys from the pullback off the broken 50% level (1.09165). I hold sells down to the fib levels -23.6% (1.07992) and -38.2% (1.07759), at which I close fully or partially. I consider this area to be a price exhaustion zone, where a reversal in the opposite direction may occur. Daily volatility is usually exhausted there, followed by a pullback.