GBP/CHF is looking bearish this week, with the pair trading around 1.0630. Here are some potential trade ideas:
Bearish Scenario:
– Sell GBP/CHF if it breaks below 1.0587, targeting 1.0490 and 1.0400.
– Stop-loss above 1.0660.
Bullish Scenario:
– Buy GBP/CHF if it breaks above 1.0650, targeting 1.0700 and 1.0750.
– Stop-loss below 1.0600.
Key levels to watch:
– Support: 1.0587, 1.0490, 1.0400
– Resistance: 1.0650, 1.0700, 1.0750
The market is influenced by factors like:
– UK Economic Data: GDP, inflation, and employment data
– Swiss National Bank Policy: Interest rates and economic indicators
– Global Economic Trends: Risk appetite and market volatility
Keep an eye on these events and adjust your trade plan accordingly
