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/
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: Brexit issues still not solved
Brexit issues for Northern Ireland were not solved by Newly appointed Brexit minister Liz Truss for UK Side.
On Friday, Liz Truss wrote the letter to the telegraph and quoted it as a legitimate provision that should be negotiated. The solution is not obtained in Northern Ireland protocol conversations between UK and EU.
On another side, the EU’s Ambassador to the UK said conversations with the UK were unhelpful.
And Issues are going longer and not to find solutions by compromise.
So we are not impressed and not surprised by the threat of article 16 triggering.
Swiss Franc: SNB made 26 billion Francs gains from Foreign port
SNB has reported that 26 billion Francs profit made from foreign currency investments in Stocks, Bonds and nearly worth of $28 billion profit.
And had invested 1 trillion Francs in the long-term view on Stocks and Bonds, now it has given good returns and will compensate the gains of Swiss Francs against counter pairs.
Swiss Bank has also been affected by the loss of 100 million francs from Gold Holdings, but this loss will be compensated by 1 billion Francs gains in Stocks and bonds.
This year 2021 Annual profit must be higher than 20.9 billion francs made in 2020.
Bee estimated Central bank would be made roughly as 35 billion Francs in this financial year 2021-2022.
And SNB will pay the Divided of 15 per share as 6 billion francs will deposit to the Swiss Government.
The Gains will reduce the current value of Swiss Francs in FX markets in foreign investments to SNB.
Don’t trade at your free time, instead trade the markets only when there are confirmed trade setups.
Get confirmed trade setups here: https://www.forexgdp.com/buy/