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  4. GBP/CHF Signal - 24 October 2016
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GBP/CHF Signal - 24 October 2016

By Christopher Lewis
Christopher Lewis
By Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

GBP/CHF Signal

Risk 0.33%

trade can be taken anytime

Long Trade 1

• Buy GBP/CHF at 1.2225

• Stop loss at 1.2150

• take profit at 1.2450

• once you are 100 pips in profit, move stop loss to break even

Short Trade 1

• sell GBP/CHF at 1.1980

• stop loss at 1.2025

• once the market hits 1.1750, move stop loss to break even

• target 1.1550

GBP/CHF Analysis

The GBP/CHF pair has been very negative for quite some time now, but we have seen signs of stabilization recently. Because of this, a bounce could be coming and of course it looks as if the markets are preparing to do just that. However, I will be the first to admit that I prefer to sell this market on a break down, because that would show a significant breakdown of support. Because of this, the position size should be relatively small if you are buying. On the other hand, if we break down, we could get a significant move lower.

GBP/CHF Analysis

There are no significant announcements today that should move this market.

Christopher Lewis
By Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

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