GBPCHF continues to trade within its April 15 swing high order block after a successful lower high is formed.

To end this Monday’s Finlogix analyses, I’ll updating a new one for the GBPCHF cross pair.

My April 25 short trade plan has concluded in a loss:

https://www.finlogix.com/analysis/20240425/gbpchf-intraday-analysis-and-trading-plan-for-april-25-2024

There is one Swiss major impact data release this coming Thursday while none in the United Kingdom.

Re-assessing GBPCHF’s high timeframe candles:

Yearly Candle: Still a Green Body with a Longer Head Wick since last check

Monthly Candle: Still a Green Semi Doji since last check but with a Grown Body 

Weekly Candle: Previous close is a Green Body current is Developing a Green Evening Doji Star

Daily Candle: Friday close is a Red Doji current is Developing a Green Long-Legged Doji

The GBPCHF is still struggling to get past the 1.15 resistance level even after a good intraweek opening.

I think the buyers are done for the month as we can see an evening doji star formation on the weekly chart.

From here price might retrace and consolidate its recent gains from last week.

Per my prediction, the previous short trade plan has been real quick.

Even after the stop loss got hit, with the presence of a new local lower swing high, I’m maintaining to short GBPCHF.

I will enter through the current levels targeting the 38.20% fib retracement level with a stop loss above last week’s swing high.

The 1.15 is still the key resistance but I prefer to put a safer sell stop only.

Since price is hovering to OB levels mentioned previously, a failure to sustenance from these levels will surely send the price lower.

Let’s see how my new analysis goes and good luck again.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.