GBPCHF - signals switch from outright bearish to buying dips - and selling rallies !
​Bearish signals for GBPCHF in each of the last 2 days have been confirmed, investors selling the cross on Wednesday to post a 3rd lower daily high & low in a row and an initial loss of 0.5 Big Fig. However, buyers have returned to the market from close to June's previous base at 1.2241, which is also close to the 2017 low trades at 1.2112/1.2215, sentiment recovering to close little changed on the day. The bounce is mildly positive, but it has only left signals mixed and the outlook for Thursday is to stay square on the open, but to sell the rally at 1.2380, yesterday's high with a stop loss at 1.2471, last week's top, or it is to buy at 1.2241, June's low with a stop loss at 1.2112, this year's base. Targets will be updated as necessary.stevesteve
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