The GBPCHF pullback since this month’s 3 ½ year top at 1.5537 has not been dynamic, but a sequence of higher weekly lows has been ended with losses of 2 Big Figs since the high. Thursday’s signals were bearish, but despite sentiment posting a 3rd lower daily high & low in a row, initial losses were recovered for sentiment to close unchanged on the day, the 3rd unchanged daily close in a row.
Signals are subsequently not strong, but the trend of lower daily highs keeps the outlook cautiously negative for Friday, selling on the open and at 1.5393, with a stop loss at 1.5421, Wednesday’s high. Targets are to 1.5340, yesterday’s low, 1.5309, the 2 week base and 1.5251, the 18th Sep low trade.