The GBP/CHF pair is currently in a rising wedge pattern.
The pair is currently at its resistance zone.
Hence we expect the pair to move to the levels of 1.31115 from here
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Trade: As long as 1.2600 is support look for 1.2770 and 1.2890.
Day Ahead: www.keytomarkets.com
We see few important Central Bank policy meetings includes Swiss Nation Bank and Norges Bank.
We expect SNB to remain on hold, whereas the Norges Bank is likely to deliver first rate hike in seven years from 0.50% to 0.75%.
With the recent NOK strength, we believe...
Everything is mentioned in the chart as to why we should go long coupled with All the positive bullish divergences on the higher time frames, Going long here.
Entry at the retest.
Buy: 1.30501
TP1: 1.31100
TP:2 1.31480
SL: 1.29890
From our analysis, it seems the pair breached out of the bearish channel consolidating around the Murrey math 4/8 level
so it is expected to go up and reach the 6/8 MM line
GBP can be the best trade starting from 4th may . It can be most effective to "GBPCHF,EURGBP,GBPNZD,GBPCAD and GBPAUD."
JPY can also be the best trade starting from 4th may . It can be most effective to"EURJPY,CADJPY,AUDJPY,CHFJPY and NZDJPY."
AB is a Range confirmed by pivots 'CDEF'.
As HTF bias is to the upside the price is likely to break the range resistance and continue to move up.
Green line: represents rejection or unacceptance of break of range boundaries
Orange line: represents acceptance of break of range boundaries
Trades can be taken one the pullbacks.
![GBPCHF: Long GBP[great britan pound] and JPY[japnese yen]](https://s3.tradingview.com/j/J1xtDd7B_mid.png "Long GBP[great britan pound] and JPY[japnese yen]")
