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GBP/CHF: Waiting For A Break Out

By Scott BarkleyForexMay 11, 2022 08:41AM ET

www.investing.com/analysis/gbpchf-waiting-for-a-break-out-200623974

By Scott Barkley | May 11, 2022 08:41AM ET

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Bearish

GBP/CHF, at time of writing, is currently at 1.2225 in a range. IF the pair can break the Fib here, we are looking for a continuation to the ATR target at 1.2142, with a day chart bottom at 1.2119 as a further target.

Watch the USDX for any change in direction. The ATR for the pair currently is 121 pips per day and its 180 day average is 103 pips per day.

USDX was currently UP at the time of this post.

GBP/CHF 4-Hour Chart

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GBP/CHF: Waiting For A Break Out

Bearish

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