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Wild Card GBP/CHF 10 Sep 2009

Discussion in 'Major Currency Crosses' started by forexqs.blogspot.com, Sep 10, 2009.

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    Wild Card GBP/CHF 10 Sep 2009

    Thursday, 10 Sep 2009

    GBP Anticipates Volatility before Rate Decision

    With mixed results versus its primary currency counterparts, the British Pound appears to be consolidating many of its trends towards a volatile movement; positioned to take place today, it appears. The Bank of England's rate decision and policy statement at 11:00 GMT may be today's leading news event and forex traders won't want to miss out on the volatility which is sure to follow this release
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    The Wild Card

    GBP/CHF

    After a sustained downward movement, this pair is now testing the significant resistance level of 1.7200. With the price floating in the over-sold territory on the 4-hour RSI, and a fresh bullish cross on the 4-hour Slow Stochastic, this pair is facing an impending upward correction which may turn out to be a reversal. Forex traders can benefit from this movement by going long on this pair and at a great entry price! ​
     

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