GBP/CHF Strength Supported by BOE Rate Decision and Retail Sales
The recent strength of the GBP has been bolstered by the Bank of England’s (BOE) decision yesterday to maintain interest rates, coupled with today’s robust retail sales data, which further fueled GBP bulls.
From a fundamental perspective, GBP strength could continue to be supported in the coming month, especially in relation to the CHF.
Previously, I posted an analysis of GBP/CHF when the price was near 1.1100 and in an accumulation phase. The price had been moving within a correction for about a month since mid-August. The breakout from this pattern appears solid, suggesting that GBP/CHF may rise further.
Additionally, yesterday’s daily candle closed strong and bullish, indicating further GBP strengthening. However, the situation with the CHF is more complex than it appears.
Thank you and Good Luck!
The recent strength of the GBP has been bolstered by the Bank of England’s (BOE) decision yesterday to maintain interest rates, coupled with today’s robust retail sales data, which further fueled GBP bulls.
From a fundamental perspective, GBP strength could continue to be supported in the coming month, especially in relation to the CHF.
Previously, I posted an analysis of GBP/CHF when the price was near 1.1100 and in an accumulation phase. The price had been moving within a correction for about a month since mid-August. The breakout from this pattern appears solid, suggesting that GBP/CHF may rise further.
Additionally, yesterday’s daily candle closed strong and bullish, indicating further GBP strengthening. However, the situation with the CHF is more complex than it appears.
Thank you and Good Luck!
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.