Ransquawk

The GBP/CHF pair is in an interesting technical position. The daily chart indicates a fairly extensive correction, comparable to a previous such movement. In addition, a very steep downward trend line is located nearby. The calendar is also quite rich. On the British side, we have a reading of retail sales, and on the Swiss side, setting interest rates and delivering a message. These are data that can significantly affect the course during today’s session. Potential scenario is, therefore, a slightly increased volatility, which may bring certain signals. After massive drops in recent months, there may be a much stronger correction, or, if the supply continues to dominate the chart, the current correction will end in the same way as the previous one, ie after 2 bullish weeks.

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Ransquawk