The purpose to post GBP/CHF is because it was noted on the retail analysts radar. As suspected and I should’ve known better, no trade exists. But the right church, wrong pew revelation answers to what degree and how dangerous are these types. Further pairs on the analyst radar to not view are CAD/CHF and NZD/CAD. The CAD/CHF trade is easy as we know USD/CAD and CAD/JPY and the best of both trades were done weeks ago. What is CAD/CHF, its CAD/JPY.
The shame to GBP/CHF is the absolute best of this trade was seen March 2nd at the 1.2800 lows and the further gains were derived March 13 from breaks at 1.3199 and 1.3228. This trade was a 400 to 500 pip gain in 2 weeks. But consider EUR/AUD 200 + pips in less than 46 hours, same for EUR/GBP + 60 and USD/CAD as well as CAD/JPY. Obviously this exercise is over.
Now GBP/CHF is stuck between 1.3228 and 1.3500’s and its untouchable. Untouchable because the GBP/CHF trade is done and plenty of 100 + pip easy trades exist so never to touch the EUR/USD or USD/JPY type pairs playing around at break points.
The 1.3500’s to this trade exists at 1.3513 and 1.3582 Vs below at 1.3228. Below 1.3228 then 1.3199 and 1.3081. Consideration to a quick day trade is short to 1.3377 and below.