GBP/CHF: Worth a contrarian buy near 1.4200?
I certainly think this could be a potential winner but I am waiting for the short-term charts to show some sign of bottoming before I test the waters. The GBP is out of favour across the board but I think the market has gotten way ahead of itself in terms of GBP selling. Additionally, I think the CHF has still a long way to fall to start catching up with the JPY at least to some degree.
There is a significant daily low at 1.4180 and the Friday night low was at 1.4200. The risk-reward if we can pick the bottom on this pair could be very interesting indeed?