GBPCHF TECHNICAL ANALYSIS

Hello Price Action Traders.

GBP/CHF

The GBP/CHF is moving out of the trading range of the past several months. The Pound/Swissy has violently broken the resistance at level 1.51130 and has reached 1.5200 in less than one hour. The boost has been caused by BOE’s Carney that said that he “could raise rates sooner than expected”. We would now expect a strong Pound in the midterm. Ideally, a retracement to the support level should take place in order to go long.

 

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