This week’s signals for GBPCHF are bearish, but a recovery from close to the 100 day average rate has been expected and this is occurring, Monday’s trading opening on a bullish gap and posting a gain of 1 Big Fig since Friday’s close. The bounce may be temporary, but with no sign yet that it is ending, the outlook for Tuesday is to buy on the open and at 1.5131, the last 8 hour low on Monday, with a stop loss at 1.5111, this week’s opening trade.
Targets are to 1.5190, a 50% recovery to the losses posted since last week’s high, 1.5222, a deeper 62% correction and 1.5325, last week’s top.