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    Double Top? Maybe Not.

    By Eliseo Agas | July 9, 2007

    Keep your eye on GBCHF. The general trend on the Daily chart is up and it is currently undergoing a healthy retracement.

    Though a double-top might be forming, for traders willing to take on the additional risk there could be a potential long play for a retest of the most recent highs at the 2.4740 area. Generally speaking, the markets usually want to retest extremes to see if they’ll hold or break.

    Since all out selling hasn’t been sustained or successful since a rebound on July 2nd there is potential for the buyers to be stepping back in, in an attempt to rally higher.

     gbpchf.gif


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    Topics: What To Look At In The Market | No Comments »

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