[B]My picks:[/B] Short GBP/CHF on Close Below 1.7650
[B]Expertise:[/B] Fundamentals Combined With Technicals
[B]Average Time Frame of Trades:[/B] 1 Day - 1 Week
GBP/CHF has been holding above a rising trendline throughout May and June, and with the pair now trading close the line at 1.7650, this may provide an opportunity to buy. However, with risk aversion still a force to be reckoned with in the markets, I prefer to hold back and look for a close below the noted trendline. I’m looking toward the 200 SMA at 1.7334 as an initial target and 1.7000 as a secondary target (psychological support, the 100 SMA, and fibonacci support).
Also, as I mentioned on Friday, I’m staying short AUD/JPY.