GBP/CHF grinds lower after 'Death Cross' formation, next bear target at 61.8% Fib
Brexit woes show little sign of dissipating anytime soon, GBP to remain under pressure.
On the data front is UK Q4 GDP data that will come on Friday. Upbeat reading could lend the pound some support.
Momentum with the bears. Next bear target lies at 61.8% Fib at 1.2845 ahead of 1.2745 (Oct 6 low).
On the flipside, 21-EMA is strong resistance at 1.3022. Decisive break above could see upside till daily cloud.
Good to stay short on upticks, target 1.2845/ 1.2745
Brexit woes show little sign of dissipating anytime soon, GBP to remain under pressure.
On the data front is UK Q4 GDP data that will come on Friday. Upbeat reading could lend the pound some support.
Momentum with the bears. Next bear target lies at 61.8% Fib at 1.2845 ahead of 1.2745 (Oct 6 low).
On the flipside, 21-EMA is strong resistance at 1.3022. Decisive break above could see upside till daily cloud.
Good to stay short on upticks, target 1.2845/ 1.2745
Note
Tests 61.8% Fib at 1.2845. Bias lower.
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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.