The USDCHF moved higher early in the U.K. session then reversed and a short was taken risking 8 pips for a potential 43 pips to our daily target at .9793.
Price moved down to test its Asian session low and yesterday’s low before descending further in advance of the U.S. open. We protected ourselves by moving our profit stop down, and the first candle of the U.S. session closed our trade.
The GBPUSD moved over 80 pips in a fifteen minute time frame in advance of any economic news releases today. It has now given back all of its post election move to the upside. Expect sellers above 1.3350 and potentially a retest of the 1.3000 figure on further negative sentiment. For a slower but active pair keep your eyes on the EURGBP for set ups.
Keep stops tight and protect yourself from the vagaries of volatility.
Good luck with your trading!
