British Pound Cross Pick 06.18.09

[B]My picks:[/B] Flat GBP/CHF
[B]Expertise:[/B] Fundamentals and Technicals
[B]Average Time Frame of Trades:[/B] 2 - 10 Days

The second attempt to catch the top on the GBP/CHF did not work out as planned, with the down tick on Friday opening the short-entry I placed at 1.7715 last week. However, the reversal on Monday triggered the stop I placed at 1.7794, and the pair has fallen to 1.7490-1.7500 (which was the target for my short trade) during the overnight following the interest rate decision by the Swiss National Bank. The mixed comments from the central bank limits the scope for another currency intervention over the near-term, and as a result, I will stay flat against the pair as the economic docket remains fairly light for the remainder of the week.