Daily Forex Update: GBP/CHF

Forex - Dollar Slips, Pound Steadies after Decline on Brexit Vote Delay

Daily Forex Update: GBP/CHF

uk.investing.com/analysis/daily-forex-update-gbpchf-200202657

Daily Forex Update: GBP/CHF

By AutoChartist | Jul 20, 2018 12:00

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GBP/CHF continues to fall inside the hourly Falling Wedge chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Falling Wedge at the 6-bar level – which is the result of the slow Initial Trend (4 bars), significant Uniformity (7 bars) and high Clarity (8 bars). GBP/CHF is expected to fall further inside this chart pattern – in line with the earlier breakout of the support area shown below.

GBPCHF 49 Candles

As can be seen from the daily GBP/CHF chart below, the price today broke through the support area lying between the key support level 1.3050 (which stopped the price in May and June) and the support trendline from March. This price area is acting as resistance zone after it was broken. The proximity of this resistance zone increases the probability GBP/CHF will continue to fall inside this Falling Wedge.

GBPCHF 1 Day Chart

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Disclaimer: THE RISK OF LOSS WHEN INVESTING IN SPOT FOREIGN EXCHANGE MARKET CAN BE SUBSTANTIAL: YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH INVESTMENT IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THIS KIND OF INVESTMENT INVOLVES SUBSTANTIAL RISK AND IS NOT FOR ALL INVESTORS. INVESTMENT IN THE CURRENCY EXCHANGE IS HIGHLY SPECULATIVE AND SHOULD ONLY BE DONE WITH RISK CAPITAL. THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN FOREIGN EXCHANGE TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS. THIS BRIEF STATEMENT CANNOT DISCLOSE ALL OF THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE FOREIGN EXCHANGE MARKETS. THEREFORE, YOU SHOULD CAREFULLY REVIEW THE DISCLOSURES CONTAINED IN BOTH THE MARKET MAKER'S TRADING AGREEMENT AND THE INTRODUCING BROKER'S LIMITED POWER OF ATTORNEY (LPOA) TO DETERMINE WHETHER SUCH INVESTMENT IS APPROPRIATE FOR YOU IN LIGHT OF YOUR PARTICULAR FINANCIAL CONDITION.

Central Banks

Interest Rates

Next Meeting

BOE

0.75%

Dec 20, 2018

ECB

0.00%

Dec 13, 2018

FED

2.25%

Dec 19, 2018

SNB

-0.75%

Dec 13, 2018

RBA

1.50%

Dec 04, 2018

BOC

1.75%

Dec 05, 2018

RBNZ

1.75%

Feb 13, 2019

BOJ

-0.10%

Dec 20, 2018

CBR

7.50%

Dec 14, 2018

RBI

6.50%

Dec 05, 2018

PBOC

4.35%

BCB

6.50%

Dec 12, 2018

FTSE 100	6,831.85	+110.31	+1.64%
DAX	10,833.23	+211.16	+1.99%
Euro Stoxx 50	3,073.05	+56.06	+1.86%
S&P 500 Futures	2,667.38	+24.38	+0.92%
Nasdaq Futures	6,777.50	+78.25	+1.17%
Nikkei 225	21,148.02	-71.48	-0.34%
Euro Index	92.99	+0.07	+0.07%
Bitcoin Futures	3,305.0	-77.5	-2.29%

Brent Oil	60.38	+0.41	+0.68%
Crude Oil WTI	51.57	+0.57	+1.12%
Gold	1,251.45	+2.05	+0.16%
Silver	14.727	+0.122	+0.84%
Copper	2.754	+0.034	+1.25%
London Cocoa	1,547.00	+2.00	+0.13%
London Wheat	173.30	+0.80	+0.46%
Natural Gas	4.446	-0.099	-2.18%

GBP/USD	1.2609	+0.0046	+0.37%
EUR/USD	1.1378	+0.0023	+0.20%
USD/JPY	113.16	-0.18	-0.16%
EUR/GBP	0.9023	-0.0018	-0.20%
USD/CAD	1.3386	-0.0012	-0.09%
GBP/JPY	142.69	+0.34	+0.24%
AUD/USD	0.7215	+0.0025	+0.35%
GBP/EUR	1.1083	+0.0021	+0.19%

BTC/USD	3,435.0	-141.0	-3.94%
ETH/USD	88.79	-4.42	-4.74%
BCH/USD	94.25	-8.45	-8.23%
IOT/USD	0.22546	-0.01024	-4.34%
LTC/USD	23.280	-1.280	-5.21%
BTC/GBP	2,565.7	-239.5	-8.54%
XRP/USD	0.29795	-0.00455	-1.50%
XLM/USD	0.11290	-0.00370	-3.17%

Daily Forex Update: GBP/CHF

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