Bearish signals for GBP/CHF in each of the last 3 days have been confirmed, investors selling the cross on Thursday to post a 4th lower daily low in a row and a loss of almost ½ Big Fig on the day. The pullback is probably corrective and temporary and the dip was bought yesterday for sentiment to recover and end a small sequence of lower daily highs.
Signals aren’t strong though, so with this in mind the outlook for Friday is to buy cautiously on the open and at 1.5265, with a stop loss at 1.5231, the 3rd July low. Targets are to 1.5330, 1.5368, Monday’s 22 month high and 1.5400.
