Looking at the daily chart, Joyner says the price action for GBPCHF has been consolidating since the Swiss franc peg to euro was broken in January. If the price breaks out to the upside and closes above the current line of resistance, Joyner says he will go long on the pair. Similar, if the pair goes back lower and breaks to the downside, Joyner will short it.

Joyner expects to see an entry signal for the trade sometime this week with Tuesday’s UK consumer price data likely to trigger a big move one way or the other.