Carleton Capital's trade of the week is SHORT GBP/CHF from 1.2176.
Quite an area of resistance between 1.2166 and 1.2188 and WR1 pivot lies in between.
Almost certain to be sellers in this area so we will be placing a SELL LIMIT order at 1.2175 with a STOP at 1.2200 for a 25 pip risk. Target is unclear but there remains a BULLISH note to the GBP so 1.2121 will be a likely first target then we shall re-evaluate the trade if we get there.
Quite an area of resistance between 1.2166 and 1.2188 and WR1 pivot lies in between.
Almost certain to be sellers in this area so we will be placing a SELL LIMIT order at 1.2175 with a STOP at 1.2200 for a 25 pip risk. Target is unclear but there remains a BULLISH note to the GBP so 1.2121 will be a likely first target then we shall re-evaluate the trade if we get there.