GBPCHF Trade Idea (19th December 2019)
Currency Pair: GBP/CHF
Timeframe: H1
Date/Time of Signal: 19th December 2019 / 2230hrs (SGT)
Review:
UK Retail sales m/m was worse than expected. Bank of England (BOE) held interest rates at 0.75% with its rate-setting committee voting 7-2 in favor of keeping the current level. However, BOE also mentioned that it could cut rates if “global growth fails to stabilize or Brexit uncertainties remain entrenched.”
GBP/CHF has been on a downward trend and as GBP/CHF broke the Support level of 1.2800, trade signaled to sell GBP/CHF (Entry: 1.2788) with 3 Take Profit (TP) Targets (TP1: 1.2768, TP2: 1.2748, TP3: 1.2728) and Stop Loss (SL) at 1.2818.
Timeframe: H1
Date/Time of Signal: 19th December 2019 / 2230hrs (SGT)
Review:
UK Retail sales m/m was worse than expected. Bank of England (BOE) held interest rates at 0.75% with its rate-setting committee voting 7-2 in favor of keeping the current level. However, BOE also mentioned that it could cut rates if “global growth fails to stabilize or Brexit uncertainties remain entrenched.”
GBP/CHF has been on a downward trend and as GBP/CHF broke the Support level of 1.2800, trade signaled to sell GBP/CHF (Entry: 1.2788) with 3 Take Profit (TP) Targets (TP1: 1.2768, TP2: 1.2748, TP3: 1.2728) and Stop Loss (SL) at 1.2818.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.