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5 Jan 2015
GBP/CHF advances ahead of UK Construction PMI
FXStreet (Mumbai) - The British pound advanced against the Swiss franc today, after trading in a narrow range in the Asian session, consolidating above 1.5364 levels.
Currently, the GBP/JPY traded at 1.5386 levels, up 0.22%, having posted day’s high at 1.5396 levels, falling a thread line short of 1.54 handle. The cross in GBP/CHF remains well supported largely on Swiss franc weakness as the Swissie yen trades close to fresh five year lows versus the US dollar at 1.0051, down -0.37% on the day. While the cable trades slightly lower at 1.5298 levels, down -0.19% on the day, just before the release of Britain’s construction PMI data which is expected to come in slightly lower than the previous reading.
GBP/CHF Technical Levels
To the upside, the next resistance is located at 1.5398 (Dec 30 High) and above which it could extend gains to 1.5503 (Dec 31 High) levels. To the downside, immediate support might be located at 1.5337 (Jan 2 Low) levels and below that at 1.5310 (Dec 29 Low) levels.
Currently, the GBP/JPY traded at 1.5386 levels, up 0.22%, having posted day’s high at 1.5396 levels, falling a thread line short of 1.54 handle. The cross in GBP/CHF remains well supported largely on Swiss franc weakness as the Swissie yen trades close to fresh five year lows versus the US dollar at 1.0051, down -0.37% on the day. While the cable trades slightly lower at 1.5298 levels, down -0.19% on the day, just before the release of Britain’s construction PMI data which is expected to come in slightly lower than the previous reading.
GBP/CHF Technical Levels
To the upside, the next resistance is located at 1.5398 (Dec 30 High) and above which it could extend gains to 1.5503 (Dec 31 High) levels. To the downside, immediate support might be located at 1.5337 (Jan 2 Low) levels and below that at 1.5310 (Dec 29 Low) levels.