A less risky way to play SNB intervention

FX:GBPCHF   British Pound / Swiss Franc
139 2 3
SNB is currently under pressure with the current attack of the 1.20 floor on EUR/CHF             . Not maintaining this floor would represent a serious credibility risk for the Swiss central bank . According to recent comments from Danthine and Jordan they will do everything to maintain the floor even using "unconventional measures" (like negative interest rate or ultimately printing money).

Playing on EUR/CHF             is now highly speculative and risky. One alternative to play an SNB intervention would be to go on a proxy pair, GBP/CHF             looks relatively ideal.


SNB highly probable intervention, BoE about to hike the rates in 2015


Current bullish trend , price testing a strong support zone and the 200 periods EMA , the stochastic oscillator comes in confirmation too showing a limited downside potential. We have two possible entries materialized by supports lines 1.5110 and below 1.4973.

Trade setup:

Aggressive entry long limit @ 1.5110
Alternative entry long limit @ 1.4975

SL@ 1.4900
TP@ 1.58
Do you still think that GBP/CHF is bullish?
This is impossible to say given the Swiss referendum taking place today, the result can be a total game changer.
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