GBPCHF: Thinking Outside the Box.

GBPCHF has eventually, with strong bearish momentum breaks down from its months-long bearish Rectangular Formation.

Yesterday’s Hammer, developed right above the dynamic S&R level of 1.2500 is one that generally summons close attention. However, I’m more of the opinion that it is weak, too weak to give a meaningful bullish reversal and it could even become a bull trap by making a faked Spring!

My focus is on the FL1.2500 area.
My Short Plan:
1. I might entertain a small frontrunner to short it with bearish signal if it ever provides a Pullback to the FL1.2600 area;
2. And/Or, a full assault at a confirmed Breakdown with bearish signal below the FL1.2500 area.

Disclaimer: The above is just my trade planning, and “Trade at Your Own Risk”.