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Tradewithlogik

GBPCHF 1:5 Risk Reward LONG (Potential Setup)Fundamentals: LogicStrategy Quant scores shifting in favour of GBP, compared to the weak score provided for CHF. - This was following the recent decrease in unemployment in the UK down to 3.8% from 3.9%. - CHF PPI dropping significantly to 0% with a forecast of 0.2% - CHF retail sales dropped significantly this month, down to -0.7% - SVME PMI down for CHF to 48.5 with a forecast for 51 All signs showing the safe haven CHF is overvalued and requires a correction whereas GBP has started to gain strength amidst brexit negotiations being extended. Technicals: - Waiting for any long confirmation signals before considering an entry - still to early in terms of technicals - Would like to see 4HR higher highs, buying power candle stick confirmations etc..
Long
by Eren_Jaeger_Trader
7