Fundamentally, EU & UK - As normal aren't agreeing on much and we are cutting it fine on timing as the date of 15th October approaches near... Boris had announced perhaps a no deal Brexit wouldn't be as bad...Questionable thought it is...! But they could do a deal last minute, never know!
Important Fundamentals for today - ECB meeting on refinancing Rates, Policy statement and lastly the press conference.
Technical terms of GBP/CHF :
Pattern: Broke out of larger triangle formation but within that we have a formed. I'd like to see a pull back 1.19450 area - RED dotted line - if goes above the green I'd re-think this trade plan and that's why the pull back is key I want to see what the reaction is - questioning my approach - are the bears fully in control?
As well as that the areas combined with Fib retracement with length of the measured it would take us towards the support areas of: 1.16600
Be aware of the boxes drawn in purple areas, we've been within these ranges for a while, we could approach 1.17250 and continue the trend towards the upside, be aware of of the range! And if we do go above those levels, we could even form - ...I will revisit this trade idea in few weeks time for further updates. Keep an eye on the 50 .
This is a shorter term trade approach and a counter trend trade.
Remember: Just a trade idea, not a recommendation.
Have a great day ahead,