• 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.

    Trade idea:

    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.

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