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Coleman: GBPCHF showing 5 signs of aggressive downside correction
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Ian Coleman has spotted five signs that he believes suggest an aggressive downside correction in GBPCHF.
DeMark highlights an exhaustion count
High volume - yesterday 270,000
Average 150,000
6 hour chart highlights Bearish Engulfing pattern
2 hour chart shows Evening Doji star
Ian is looking to sell a break of 1.5075
Stop: 15105
Targets: 1.5025 and 1.4960
The pair has recovered around 90% of the losses since the Swiss National Bank removed the euro link in mid January and Ian has noted the following key signals:
Pair now overbought
DeMark highlights an exhaustion count
High volume - yesterday 270,000
Average 150,000
6 hour chart highlights Bearish Engulfing pattern
2 hour chart shows Evening Doji star
Ian is looking to sell a break of 1.5075
Stop: 15105
Targets: 1.5025 and 1.4960
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