GBP/CHF –All set to fall

May 02, 2023

Note: JOLTS  this AM

Bearish:  We are currently @ 1.1198 in a range and looking for  a breakout of slope support.   We are in the start of a channel, and we are looking for a continuation to the 1.000 Fibo @ 1.1149 with a further target the ATR target @ 1.1125 area.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 69 pips per day and it’s 180 day average is 82 pips per day. USDX is currently moving up but at a range top-watch for it to short.