Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
GBP/CHF is trying to rebound
2019-11-11 • Updated
BUY 1.2735; TP 1.2820; SL 1.2715
On W1, GBP/CHF is trading in a descending wedge. The pair recoiled from the pattern’s lower border and turned up.
On D1, we can see that the pound rose above the range, in which it stayed during the most of December. Yesterday’s candlestick showed that there’s demand for the pair around 1.2500. It retraced 50% of the November-January decline, so the advance above the 100-day MA at 1.2725 will open the way up to the next Fibo level a 1.2835.
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