Going forward this week, the GBP/CHF pair is one I will be watching closely. The market is one that has a lot of noise around it, and it can be very erratic. However, the world is on edge to begin with, so it will be interesting to see if the Pound can continue to go higher. After all, the pair is sitting near the 200-Day EMA, the 61.8% Fibonacci retracement, and previous S/R.
If this pair rallies above the 200-Day EMA, this means that most other “risk on” trades should be in favor, and of course if the market drops significantly, perhaps below the 50-Day EMA, then it will favor safety in most markets.
Chris
