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Collins: GBPCHF’s has hit its peak
The GBPCHF’s bullish run is about to come to an end according to Alan Collins from 3c Analysis. Investors who have been riding the currency pair’s move higher could benefit from looking at the historical trends of such a strong rise.
The GBPCHF has hit its seventh straight day of consecutive higher lows. Alan warns that an 8th day of higher lows has not been achieved since November of 2008. Based on this historical trend he is expecting to see a pullback targeting the 100 day moving average around 1.4853 Fr. or 1.4759 Fr.
Only a move above 1.4905 Fr. negates this trade and renews the continued higher momentum.
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