GBPCHF may rise supported by Fundamentals
Today, the Swiss 10-year bond yield is near a 3-week high.
The Swiss 10-year government bond yield was near 0.40%, its highest level since May 20.
The latest Swiss CPI and GDP data increased the chances that the Swiss National Bank (SNB) will cut interest rates by 25 basis points at its next meeting.
Technical Analysis:
GBPCHF is gathering and is forming an ascending triangle pattern. Once the price breaks the top of the pattern at 1.1155, it should rise further and could reach 🎯 1.1190; 🎯 1.1230.
If it moves up from the current zone the first short term target will be at 1.1155
The first zone is very strong and could also act as a reversal zone and could push the price lower again, so be careful near that zone.
Targets:
🎯 1.1155
🎯 1.1190
🎯 1.1230
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Today, the Swiss 10-year bond yield is near a 3-week high.
The Swiss 10-year government bond yield was near 0.40%, its highest level since May 20.
The latest Swiss CPI and GDP data increased the chances that the Swiss National Bank (SNB) will cut interest rates by 25 basis points at its next meeting.
Technical Analysis:
GBPCHF is gathering and is forming an ascending triangle pattern. Once the price breaks the top of the pattern at 1.1155, it should rise further and could reach 🎯 1.1190; 🎯 1.1230.
If it moves up from the current zone the first short term target will be at 1.1155
The first zone is very strong and could also act as a reversal zone and could push the price lower again, so be careful near that zone.
Targets:
🎯 1.1155
🎯 1.1190
🎯 1.1230
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Order cancelled
GBPCHF- the price didn't breakout above the pattern...Pending Order Canceled
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Related publications
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.