GBP/CHF – strong demand response
It became interesting during Monday’s GBP/CHF session on a daily basis. There was a rather strong response from the demand side, and when you look at the chart, you can see that it is taking place in an interesting technical area. The current correction has reached the same range as the previous one, and the price has gone back to the level of clear support in region 1.31, i.e. also to the area of the previous peak. Taking into account the calendar concerning Brexit issues, which is entering a decisive phase. It is possible that the markets are playing to strengthen the British currency. This week’s votes are due to take place unless, of course, they are postponed again. If everything that is wrong and uncertain has already been priced, then perhaps there is a chance that the pound will react more permanently. If that is the case, GBP/CHF should return quite quickly to the peak area at the end of February.
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