GBP/CHF Forecast Today 21/5: Trying To Breakout (Video)

(MENAFN- Daily Forex) The British pound continues to grind higher against the Swiss Franc, but we did run into a little bit of resistance above things being equal, the market does look like it is trying to break out from a longer term standpoint, but we might be a little overextended in the short term would just end up being a buying opportunity on a dip that I think most traders would welcome 1.15 level of course is an area that\u0026#39;s been important more than once. I think that probably continues to be an area of interest one way or the other. After this breakout, I would anticipate that the British pound could go looking to the 1.20 level above, especially as the interest rate differential will continue to be a major driver of where we go next. Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: 5, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, }); var Top5PanelSections = { Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, }The Swiss national bank has recently cut rates and the Bank of England doesn\u0026#39;t seem to be getting close to it or at least not that close to it at this point. With this I think it makes a lot of sense that this pair continues to go higher so I certainly would not short this market. Granted, I do think that we probably get a short term pullback but that should end up being an opportunity that a lot of people will be looking towards. Underneath we have the 50 day EMA offering support as well and then of course the 1.13 level is a massive support level is still one of my favorite pairsIn general, I think the GBP/CHF pair continues to be one of the better performers out there, as I have been short the Swiss franc and the Japanese yen against a multitude of currencies. And this one, of course, is one of them that I presently am long of. Ultimately, it would take a lot of negativity out there for me to envision some type of major selloff in this pair, so at this point I continue to favor the upside.


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