Months ago, I made an analysis about the future of the pair and now, the first Target Profit is closer - by a month or so.
A 5-year bear market could be broken. I expect further gains as the UK figures out its 'successful' Brexit situationship and vaccination efforts.
A retracement is expected from all the bullisness in the past few months.
However should the momentum still be there, I expect the 200-week moving average to be ripped through by the price.
GBP CFTC COT Weekly report
Leveraged managers have increased their long positions since last year June and this doesn't seem like they will stop soon.
CHF CFTC COT Weekly report
On the other hand, hedge funds haven't added considerable long positions in the Swiss franc explaining why CHF pairs have been bullish with the exception of USDCHF & CHFNOK.
Should this situation remains the same, GBPCHF momentum for months
A retracement is expected from all the bullisness in the past few months.
Leveraged managers have increased their long positions since last year June and this doesn't seem like they will stop soon.
On the other hand, hedge funds haven't added considerable long positions in the Swiss franc explaining why CHF pairs have been bullish with the exception of USDCHF & CHFNOK.
