GBPCHF - tentative recovery signalled to continue - temporarily
​This week's signals for GBPCHF are pointing to buying the dip above this year's low, or with an end to a long sequence of lower weekly highs. However, although Monday's trading saw sentiment post a 3rd higher daily low in a row and initial gains of 0.75 Big Fig, the rally has been sold from close to the 13 day average rate and for the cross to close only modestly higher on the day overall. Despite the pullback signals for Tuesday maintain a positive bias, and with this in mind the outlook is to buy on the open and then at 1.2338, yesterday's low with a stop loss at 1.2300, Thursday's base. Targets are to 1.2402, yesterday's high, 1.2443/69, last week's top and 1.2541, the 3 week high trade.
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