So, the Bank of England day finally arrives and the rate decision is due in less than half an hour, but will it be a Super Thursday for once? It could be if you are on the right side of the potentially sharp move for the pound!
With stocks, pound and the yen dominating the headlines in recent weeks, traders haven’t paid as much attention to what still is the world’s most heavily-traded forex pair: the euro/U.S. dollar (EUR/USD) currency pair.
The daily chart of the U.S. dollar/Swiss franc (USD/CHF) currency pair (see chart below) continues to show constructive technical signals as far as the bullish case is concerned. Obviously the biggest risk to any technical outlook is sudden changes in sentiment because of some fundamental stimuli, such as the ongoing Brexit risks and Friday’s US jobs report among others.