For many years GBP/CHF oscillated fairly steadily around 2.50, give or take 20 big figures, and then came the big sell-off as investment managers eschewed all things UK and piled into all things Swiss. I’m not going to argue about the merits of theses strategies, but what I will say is that GBP/CHF could easily rise to 1.80 without endangering the downtrend.
Risk-reward must surely favour longs in the current environment (talking my position as usual).