theforexportal
Short

GBPCHF looks to be weakening

FX:GBPCHF   British Pound / Swiss Franc
The last 3 days have seen 3 indecision doji candles suggesting the BULLS are running out of strength.
As long as we remain above the 200 on the DTF we must assume we are still in an uptrend but with RSI weakening, a move back to support must be favourite.
I'll be looking for a move down to 1.25 in the next trading week and see if support here holds. With political tensions increasing, a flight to the CHF seems likely so GBPCHF is likely to come under pressure.
SELL down to 1.25 and see where we go if we move down there. If 1.25 fails then a move to 1.2430 is possible.
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