GBP/CHF: Loss Of Momentum Points Signals Cautiously Lower
3cAnalysis | Oct 08, 2014 07:00
Although there has been a loss of GBPCHF momentum since last week’s 3 ½ year high at 1.5537, the absence of a sell signal has left this week’s signals cautious and neutral. Yesterday’s trading initially continued to reflect investor indecision, but initial gains have been given up into the close leaving signals with a bearish bias.
With this in mind the outlook for Wednesday is to sell on the open and at 1.5435, with a stop loss at 1.5472, this week’s high. Targets are to 1.5375, last week’s low, 1.5309. the 2 week base and 1.5251, the 18th Sep low trade.
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