DDMARKETS
Long

GBPCHF Signal: 30min Classic Breakout Entry

FX:GBPCHF   British Pound / Swiss Franc
The strong gains that took place in GBP were triggered by remarks from EU Barnier. Barnier stated that the EU is willing to offer the UK a trade deal that has not been offered to any country yet. These comments neutralized Theresa May's comments when asked about brexit, saying that 'it will no be the end of the world' which weakened GBP earlier.

In GBPCHF 30min chart there has been a 30min breakout as the support (in green) gave way. The strategy would be to wait for a 30min close above the resistance (in green, former support), which may pave the way for further gains, targeting 1.2660.

Although the following may be less relevant for GBP but more for CHF, Canada's deadline to reach a trade deal (NAFTA) with the US is tomorrow (Friday).
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