GBPCHF: intermediate term uptrend

FX:GBPCHF   British Pound / Swiss Franc
196 13 7
Gentlemen, the SNB has done it again!
As you can see, this isn't the first time their sudden intervention causes a disruptive gap which ruined thousands of people in one day.

RIght now, there is a clear uptrend in place, showing new highs every 5 candles, and nice accumulation before sudden bursts of impulsive upwards action.
There are hints at the possibility of the SNB buying back some Euros, which if they materialize, will fuel the ascent weakening the Swiss Franc             vs the recently bullish Pound.

If the Swiss National Bank does indeed pursue this route, then going long GBPCHF             will be the ideal carry trade this year, as long as they don't modify their monetary policy and the BoE does hike interest rates as expected.

I'll be looking at long opportunities only for the time being.
I still think we will see 1.67 sooner or later.
The SNB hard reset didn't change a thing, price is headed back to where it was heading before their intervention.
Already over the most traded level in the whole move since 2011's low.
CHF longs are the only ones that are working recently...
consolidate in the tiny triangle (one scenario)
IvanLabrie jangseohee
Or go up in a complex 3 part move like the last time it dropped...both valid.
+1 Reply
The weekly impulsive move down makes me think this pair will head down before it's a buy again.
IvanLabrie IvanLabrie
Might have to do some damage control here...A bit worried about the last impulsive moves near the week close.

I'm in.
jangseohee IvanLabrie
version 3?
IvanLabrie jangseohee
RSI div? That's the mirrors v1 one...
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