+1880 Points Profit Reached in GBPCHF buy signal after rebounding from the Strong Support

GBPCHF Analysis

GBPCHF has reached the major price level where the old resistance turns into new support in the weekly timeframe chart. How to trade this support and resistance? check here: https://www.forexgdp.com/support-and-resistance/

GBPCHF old resistance turn into the new support area and symmetrical triangle pattern found

In another view, GBPCHF has reached the higher low area of the Symmetrical triangle pattern. How to trade this triangle pattern? check here: https://www.forexgdp.com/chart-patterns/#triangle

GBPCHF buy signal has given after the confirmation of upward movement as a long term signal. 

GBPCHF has reached the take profit target successfully.


UK Pound: UK Q3 GDP data printed higher than expected

UK GDP Q3 data shows the Upside mark from 6.6% to 6.8% today.

And PM Boris Johnson ruled out the tight restrictions during Christmas festivity gatherings of the public.

PM Boris Johnson ruled out the tight restrictions during Christmas festivity gatherings of the public

And he stated that the situation of Omicron is under review, and we will decide lockdown measures from next week if cases lead to severe.

The New Brexit Negotiator Liz Truss has the same plan with the EU and UK over the Northern Ireland Protocol.

And We have confidence that European control of Justice will Favour the UK Rules; if not done, the UK will trigger Article 16.

Bank of Japan members backed the need for higher economic stimulus because the inflation 2% target is farther from the current level.

Swiss Franc: US FDA approved the Pfizer pill

Swiss economy shows most Omicron variant cases and tight measures to control, and Booster Dose will be provided for public soon in next year onwards.

The Swiss economy shows the worst inflation numbers in 30-year history, and SNB is planning for selling Swiss Francs to control the value of the Swiss Franc.

US Food and Drug Administration approved the Booster dose of Pfizer and Merck Covid 19 pills this week 1

US Food and Drug Administration approved the Booster dose of Pfizer and Merck Covid-19 pills this week. This news helped the US Dollar to improve more further.

And USDCHF opened higher today after the US FDA’s Omicron Pills approval started this week.


 

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