GBPCHF: intermediate term uptrend
Gentlemen, the SNB has done it again!
As you can see, this isn't the first time their sudden intervention causes a disruptive gap which ruined thousands of people in one day.
RIght now, there is a clear uptrend in place, showing new highs every 5 candles, and nice accumulation before sudden bursts of impulsive upwards action.
There are hints at the possibility of the SNB buying back some Euros, which if they materialize, will fuel the ascent weakening the Swiss Franc vs the recently bullish Pound.
If the Swiss National Bank does indeed pursue this route, then going long GBPCHF will be the ideal carry trade this year, as long as they don't modify their monetary policy and the BoE does hike interest rates as expected.
I'll be looking at long opportunities only for the time being.
As you can see, this isn't the first time their sudden intervention causes a disruptive gap which ruined thousands of people in one day.
RIght now, there is a clear uptrend in place, showing new highs every 5 candles, and nice accumulation before sudden bursts of impulsive upwards action.
There are hints at the possibility of the SNB buying back some Euros, which if they materialize, will fuel the ascent weakening the Swiss Franc vs the recently bullish Pound.
If the Swiss National Bank does indeed pursue this route, then going long GBPCHF will be the ideal carry trade this year, as long as they don't modify their monetary policy and the BoE does hike interest rates as expected.
I'll be looking at long opportunities only for the time being.
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