[B]My picks:[/B] Stay Long GBP/CHF
[B]Expertise:[/B] Fundamentals and Technicals
[B]Average Time Frame of Trades:[/B] 2 - 10 Days
The GBP/CHF surged to a two-month high this week and broke above my target at 1.7042, the 2/23 high, and I will remain long against the pair as investors speculate that the Swiss National Bank will continue to intervene in the currency market as the central bank attempts to stem the risks for deflation. As a result, I expect the pound-franc to retrace the sell-off from February, and have moved my target to 1.7489, the 2/10 high. Accordingly, I have moved my stop up to 1.6640, the 100-Day moving average.
</p>