News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/wrI29FTN41
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/UzzC1bGzRJ
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/46bdHdOmOV
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/6FokpDbL65
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/TwrOBFgIwj
  • Gold prices were crushed this week as yields continued to climb. But with a big spot of support coming in, can buyers bring a bounce ahead of NFP? Get your market update from @JStanleyFX here: https://t.co/E1TTXVJGUm https://t.co/pD4TeAY3ZP
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/PiLYJDVvtY
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/453MLny2lu
  • The haven-linked US Dollar may be in a position to benefit in the short-run as economic recovery bets support longer-dated Treasury yields, making them more competitive with stocks. Get your market update from @ddubrovskyFX here: https://t.co/BickxlcuZi https://t.co/OdARp4Z1mh
  • The Dow Jones and Nasdaq 100 look to be on diverging technical paths as volatility spikes. Meanwhile, the S&P 500 teeters on support as it splits the difference between its sister indices. Get your market update from @PeterHanksFX here: https://t.co/0gULgIN2kw https://t.co/dzuxyjkXmx
GBP/CHF Price Forecast: May Rally Further As Support Holds

GBP/CHF Price Forecast: May Rally Further As Support Holds

Mahmoud Alkudsi, Analyst

British Pound vs Swiss Franc Technical Forecast

  • Will bears give up control?
  • GBP vs CHF price chart exposes a sideways move

GBP/CHF- Weaker Bearish Sentiment

On May 18, GBP/CHF declined to an over six-week low at 1.1741 then rallied after as some bears seemed to cover. As a result, the weekly candlestick closed in the green with a nearly 0.5% gain.

Alongside this, the Relative Strength Index (RSI) rose from 34 to 42 highlighting that the bearish move was losing momentum.

GBP/CHF Daily PRice CHART (July 20, 2018 – May 28, 2020) Zoomed Out

GBP/CHF Price Forecast: May Rally Further As Support Holds
Traits of Successful Traders
Traits of Successful Traders
Recommended by Mahmoud Alkudsi
Traits of Successful Traders
Get My Guide

GBP/CHF Daily PRice CHART (March 10 – MAy 28, 2020) Zoomed In

GBP/CHF Price Forecast: May Rally Further As Support Holds

Based on the analysis of the daily chart, at the start of last week, GBP/CHF rebounded from the low end of the current trading zone 1.1741 -1.2091 then rallied after. This week, price failed twice to close above the 50-day moving average indicating that bears were still in charge.

A close below the low end of the zone reflects a stronger bearish sentiment and could send the price even lower towards 1.1115. Nonetheless, the weekly support level underlined on the chart (zoomed in) should be considered.

On the other hand, any close above the high end of the zone could trigger a rally towards the 1.2500 handle. A further close above that level may extend this rally towards 1.2915. In that scenario, the weekly resistance levels marked on the chart should be kept in focus.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Mahmoud Alkudsi
Improve your trading with IG Client Sentiment Data
Get My Guide

GBP/CHF Four Hour PRice CHART (April 22 – MAy 28, 2020)

GBP/CHF Price Forecast: May Rally Further As Support Holds

At the start of May, GBP/CHF broke the neckline of the double top pattern residing at 1.2070. Later on, bears took control and led the price to a multi-week low at the low end of the trading zone discussed on the daily chart. On Thursday, the market corrected its downtrend and traded in a sideways move creating a higher low with a lower high.

A break below 1.1654 would be considered a bearish signal and could send GBPCHF towards 1.1439. In turn, a break above 1.2208 may cause a rally towards 1.2382. That said, the technical levels underscored on the chart should be watched closely.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Mahmoud Alkudsi
Building Confidence in Trading
Get My Guide

Written By: Mahmoud Alkudsi,Market analyst

Please feel free to contact me on Twitter: @Malkudsi

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES