I like this setup, just like the GBPCHF this pair is retracing to the 0.61 fib that offers a strong resistance.
The round number 2.200 is also at that area.
As expected, after dovish GBP rate news the targets are reachable.
See you tomorrow!
Yes, could be true, but if you see the previous ascending triengle, which I didn't draw it on my chart, but it's obvious (in that point I thought the same thing, that it couldn't go higher), worked perfectly. Anyway, if rates are bad, there is a chance for me to follow the down move when blue support is broken. Let's see tomorrow, as you say. Regards.
Its depends on each trader, personally i have already closed the trade before the news with 150 pips profits and keep my GBPCHF short trades opened. Just in case, i do no want to overexpose my account in case of non expected news. Regards.
hello, i was sleeping when the news were released and i see they were "neutral", my bias is still short on this pair. If you are already short i would hold the positions moving SL to BE. The AUD is getting stronger against other currencies.
Waiting for confirmation on the breakout of the trendline here, I think break upwards is less likely, hoping for a continuation of the down trend..., made some decent pips on this pair already this week!