It’s been a while since the last time I placed a trade in the GBPCHF, I didn’t like the way it traded after the Bank of Switzerland intervention, it looked as if it was nervous, hesitant, etc. But now it looks a little different, consistently trading in between clear LT support and resistance levels, on the short term charts it is trading in a clear short term range, etc.

Here is the ST chart:

So basically what I’m waiting for is for the GBPCHF to break the short term range:

• I’ll look for long opportunities if it breaks the top of the range.
• I’ll only look for short opportunities if it breaks the bottom of the range.

So its not ready yet, but I’ll soon…

Have a great week ahead!

Trade Safe!

Raul Lopez
Forex Training