Fxwirepro call review: GBP/CHF reaches target and beyond; maintain short positions
Source: FxWire Pro - Commentary / 14 Aug 2018 08:43:00 America/New_York
In late June, we called on our readers to go short on the pound against franc at the then current rate of 1.305 with a target of 1.275 and the stop loss around 1.326 area, https://www.econotimes.com/FxWirePro-Short-term-Outlook-Sell-pound-against-franc-targeting-1275-area-1396853
The pair has reached our target and beyond. It is currently trading at 1.265 area. The pound continues to suffer the brunt of domestic political trouble in the UK, Brexit uncertainties and a weaker economy, while the franc is receiving safe haven bids thanks to the ongoing geopolitical turmoil surrounding Turkey. The Eurozone’s exposure to Turkey is making the franc a regional safe haven to park the money.
If the positions are not booked, we would like to urge the readers to maintain short positions as the latest calculations suggest that the pair is likely to decline to 1.245 area.© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.