Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
GBP/CHF may try to recover
2019-11-11 • Updated
BUY at 1.26; TP1 1.2680; TP2 1.2775; SL 1.2560
On W1, GBP/CHF formed a “hammer” candlestick at the support line from the 2016 lows. The recent minimum of the price is not confirmed by MACD. As a result, a retracement to the upside seems likely.
On D1, the candlestick formed on Friday also has a long lower wick. A return below 1.25 is needed to reestablish the bearish pressure.
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.