The gives an overview on the gradual rally in GBPCHF , unless SNB starts selling CHF which could break the upper ML and push prices higher.
Fundamentally, GBP is quite strong and there have been rumors of SNB's intervention in the markets (although not true) in recent days. No matter what, SNB is unlikely to let the Swiss Franc appreciate in value. Considering they have strong Fx reserves and Jordan's verbal intervention until now has proven to keep the markets from going long on CHF. For Stops, look for 1.5022. Overall, this long term trade gives a very good RR.
I expect EURCHF to be the trigger for SNB to get into action.. either towards December or early Q1 ECB meeting next year when Germany will not be a voting member of the governing council, which could make the ECB make some very dovish decisions.
How to trade?
Simply pick up longs in small bits and pieces, preferably from micro or mini lots and build positions as and when previous positions are covered for risk.