GBPCHF Long
Setup GBPCHF
Technically :
- we can see that the triangle has been broken on the way up
- the buyers managed to break the previous highs (the area I circled)
Fundamentally :
Fundamentally important trade.
- The good news on employment in the UK has stumulated the market and has broken the triangle and the previous highs.
- This morning Switzerland's PPI came out weaker than expected which gives further confirmation to buy the GBP against the CHF.
- What's more, inflation in Switzerland remains relatively low compared to the United Kingdom.
A return of the price to the trendline at the top of the triangle may offer good buying opportunities to target the major trendline.
Technically :
- we can see that the triangle has been broken on the way up
- the buyers managed to break the previous highs (the area I circled)
Fundamentally :
Fundamentally important trade.
- The good news on employment in the UK has stumulated the market and has broken the triangle and the previous highs.
- This morning Switzerland's PPI came out weaker than expected which gives further confirmation to buy the GBP against the CHF.
- What's more, inflation in Switzerland remains relatively low compared to the United Kingdom.
A return of the price to the trendline at the top of the triangle may offer good buying opportunities to target the major trendline.
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