The GBP/CHF is having a retracement, but the next move will be decided after the GBP CPI news.

Chart

 

The CPI defines a change in the price of goods and services purchased by consumers as consumer prices account for a majority of overall inflation. This is the very important data for the GBP. Better than expected result targets 1.2300 zone and 1.2300-20 could be good for potential short trades. If we see a rejection to the downside after the retracement pay attention to 1.2277, 1.2226 and 1.2200. If the price breaks 1.2345, bearish scenario will be invalidated.

GBPCHF

 


 

The analysis has been done with the CAMMACD.MTF template.

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