GBPCHF Trade Idea (19th December 2019)
Currency Pair: GBP/CHF
Timeframe: H1
Date/Time of Signal: 19th December 2019 / 2230hrs (SGT)
Review:
UK Retail sales m/m was worse than expected. Bank of England (BOE) held interest rates at 0.75% with its rate-setting committee voting 7-2 in favor of keeping the current level. However, BOE also mentioned that it could cut rates if “global growth fails to stabilize or Brexit uncertainties remain entrenched.”
GBP/CHF has been on a downward trend and as GBP/CHF broke the Support level of 1.2800, trade signaled to sell GBP/CHF (Entry: 1.2788) with 3 Take Profit (TP) Targets (TP1: 1.2768, TP2: 1.2748, TP3: 1.2728) and Stop Loss (SL) at 1.2818.
Timeframe: H1
Date/Time of Signal: 19th December 2019 / 2230hrs (SGT)
Review:
UK Retail sales m/m was worse than expected. Bank of England (BOE) held interest rates at 0.75% with its rate-setting committee voting 7-2 in favor of keeping the current level. However, BOE also mentioned that it could cut rates if “global growth fails to stabilize or Brexit uncertainties remain entrenched.”
GBP/CHF has been on a downward trend and as GBP/CHF broke the Support level of 1.2800, trade signaled to sell GBP/CHF (Entry: 1.2788) with 3 Take Profit (TP) Targets (TP1: 1.2768, TP2: 1.2748, TP3: 1.2728) and Stop Loss (SL) at 1.2818.
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