The daily trend of the GBP/CHF is up despite falling 200 pips. British retail sales figures came out lower than expected and the pound was punished across the board.
The daily trend of the GBP/CHF is up despite falling 200 pips. British retail sales figures came out lower than expected and the pound was punished across the board. This sets up a “Buy on the Dips” scenario as the 38.2% Fibonacci retracement level and a daily rising trend line overlap in the 1.7126 vicinity. The Swiss National Bank also declared that they would defend against any further appreciation of the Franc.
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