GBP/CHF Signal - 24 October 2016

GBP/CHF Signal

Risk 0.33%

trade can be taken anytime

Long Trade 1

• Buy GBP/CHF at 1.2225

• Stop loss at 1.2150

• take profit at 1.2450

• once you are 100 pips in profit, move stop loss to break even

Short Trade 1

• sell GBP/CHF at 1.1980

• stop loss at 1.2025

• once the market hits 1.1750, move stop loss to break even

• target 1.1550

GBP/CHF Analysis

The GBP/CHF pair has been very negative for quite some time now, but we have seen signs of stabilization recently. Because of this, a bounce could be coming and of course it looks as if the markets are preparing to do just that. However, I will be the first to admit that I prefer to sell this market on a break down, because that would show a significant breakdown of support. Because of this, the position size should be relatively small if you are buying. On the other hand, if we break down, we could get a significant move lower.

GBP/CHF Analysis

There are no significant announcements today that should move this market.

Christopher Lewis

Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.