Bearish signals for GBP/CHF in each of the last 2 days have been confirmed, investors selling the cross on Wednesday to post a 3rd lower daily low in a row and a loss of 35 pips on the day.
Although there is no sign yet that the pullback is ending, it is probably corrective and temporary.
With this in mind, the outlook for Thursday remains just cautiously bearish, selling on the open and at 1.5300, with a stop loss at 1.5337, Tuesday’s high trade.
Targets are to 1.5250, 1.5231, the 3rd July low and 1.5166, this month’s base.
