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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.