GBP/CHF Bearish Alt Bat Pattern; UK CPI Ahead

Professional Trader and Analysist • Sep 18, 2019 at 5:31 AM EDT

Brexit optimism, relatively hawkish announcements from BoE and promising macroeconomic data from the U.K remain to be supportive for Sterling.

Our latest long setup has achieved the target zone. GBP/CHF Pair has completed a Bearish Alt Pattern as seen in the H4 Chart.

Brexit optimism, relatively hawkish announcements from BoE and promising macroeconomic data from the U.K remain to be supportive for Sterling. The U.K. CPI is scheduled to release 08:30 GMT. A worse than expected CPI could trigger the Bearish Alt Bat Pattern.

TARGETS: 1.23900 1.23760 1.23600 1.23300.

If CPI data comes better than expected, GBP/CHF is like to test 1.25100 and 1.2500 medium term.

(Click on image to enlarge)

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