Strong GBP uptrend from last week. Will it continue?
I have gone long GBPCHF on the 1H as I saw a rejection on of a demand zone at 1.1292 and the GBP has been in a uptrend all last week (see daily charts for example). I have opened a small position because the UK Chancellor of the Exchequer is due to speak at a conference (in about an hour as I write) and set my SL at 1.1265.
There is some short time resistance at approximately 1.1330. My initial target is 1.1380 as seen on the Daily chart.
Note if you are keeping this trade open for a few days we have a Swiss interest decision this Thursday that could impact the CHF.
There is some short time resistance at approximately 1.1330. My initial target is 1.1380 as seen on the Daily chart.
Note if you are keeping this trade open for a few days we have a Swiss interest decision this Thursday that could impact the CHF.
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