GBPCHF - Buying a retest of the broken range
We look to Buy at 1.2885
Buying pressure was posted in the market yesterday and has continued overnight.
Positive overnight flows lead to an expectation of a firm open this morning.
Broken out of the channel formation to the upside.
A mild correction has been posted from yesterday’s high, this is seen as a retest of the breakout level.
Further upside is expected although we prefer to set longs at our bespoke support levels at 1.2885, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.
Stop: 1.2845
Target 1: 1.3000
Target 2: 1.3050
Buying pressure was posted in the market yesterday and has continued overnight.
Positive overnight flows lead to an expectation of a firm open this morning.
Broken out of the channel formation to the upside.
A mild correction has been posted from yesterday’s high, this is seen as a retest of the breakout level.
Further upside is expected although we prefer to set longs at our bespoke support levels at 1.2885, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.
Stop: 1.2845
Target 1: 1.3000
Target 2: 1.3050
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