There was poor data coming out of the European region with 2nd Quarter readings German Preliminary GDP coming in lower by 0.1% than expected figure of 0.5%. However pound CPI reading come in favorable at 4.4%.
The biggest news that will be highly anticipated is on Wednesday when we wait to hear if the SNB will be pegging the Swiss Franc to the Euro in an effort to reduce the strength it has gained over the last few months. This will definitely cause a lot of volatility tomorrow so lets wait and see on the sidelines for now.
I have just exited a Gbp/Chf position in light of tomorrows announcements at a profit following the massive weekly pin-bar formation on the weekend which opened up with a gap as i had expected but made a pull back and is currently trading higher.
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