Take Profit 1 - 1.1085
Take Profit 2 - 1.1035
Take Profit 3 - 1.0985
Stop loss - 1.1265
The GBPCHF pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1.1165, and a sell entry point of 1.1165 is just above the recent low of 1.1145.
There are a few reasons why GBPCHF could continue to fall in the near term. First, the GBP is generally seen as a safe haven currency, and it has been weakening against the CHF in recent weeks as concerns about the global economy have grown. Second, the Bank of England is expected to raise interest rates more slowly than the Swiss National Bank, which could put downward pressure on the GBP against the CHF. Finally, the UK economy is expected to grow more slowly than the Swiss economy in the near term. This is due to a number of factors, including the impact of the war in Ukraine on the UK's economy.
Technical analysis:
From a technical perspective, the GBPCHF pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The UK economy is expected to grow more slowly than the Swiss economy in the near term. This is due to a number of factors, including the impact of the war in Ukraine on the UK's economy. However, the Bank of England is expected to raise interest rates more slowly than the Swiss National Bank, which could put downward pressure on the GBP against the CHF.
Risks:
There are a few risks to consider before entering a trade on GBPCHF. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the GBPCHF pair. Second, the Swiss National Bank is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the CHF. Finally, the UK economy is facing some headwinds, such as the war in Ukraine and the ongoing trade tensions with China. These headwinds could weigh on the GBP and lead to a decline in the GBPCHF pair.
Overall:
I think GBPCHF is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on GBPCHF:
The economic outlook for the UK and Switzerland.
The level of volatility in the forex market.
The price of oil and other commodities.
Take Profit 2 - 1.1035
Take Profit 3 - 1.0985
Stop loss - 1.1265
The GBPCHF pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1.1165, and a sell entry point of 1.1165 is just above the recent low of 1.1145.
There are a few reasons why GBPCHF could continue to fall in the near term. First, the GBP is generally seen as a safe haven currency, and it has been weakening against the CHF in recent weeks as concerns about the global economy have grown. Second, the Bank of England is expected to raise interest rates more slowly than the Swiss National Bank, which could put downward pressure on the GBP against the CHF. Finally, the UK economy is expected to grow more slowly than the Swiss economy in the near term. This is due to a number of factors, including the impact of the war in Ukraine on the UK's economy.
Technical analysis:
From a technical perspective, the GBPCHF pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The UK economy is expected to grow more slowly than the Swiss economy in the near term. This is due to a number of factors, including the impact of the war in Ukraine on the UK's economy. However, the Bank of England is expected to raise interest rates more slowly than the Swiss National Bank, which could put downward pressure on the GBP against the CHF.
Risks:
There are a few risks to consider before entering a trade on GBPCHF. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the GBPCHF pair. Second, the Swiss National Bank is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the CHF. Finally, the UK economy is facing some headwinds, such as the war in Ukraine and the ongoing trade tensions with China. These headwinds could weigh on the GBP and lead to a decline in the GBPCHF pair.
Overall:
I think GBPCHF is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on GBPCHF:
The economic outlook for the UK and Switzerland.
The level of volatility in the forex market.
The price of oil and other commodities.