FxWirePro: UK Retail Sales decline more than expected, GBP/CHF largely unimpressed

Chart - Courtesy Trading View 

GBP/CHF was trading largely unchanged at 1.1249 at around 06:30 GMT, with session high at 1.1248 and low at 1.1244.

The pair is trading directionless at daily cloud base and 55-EMA support. GMMA indicator shows major and minor trend are neutral. 

A big miss on UK Retail Sales data keeps the British pound under pressure. Momentum is still with the bulls. RSI well above the 50 mark.

Data released earlier today showed UK retail sales fell to -1.4% over the month in September vs. -0.5% expected and -1.7% previous. Core retail sales slipped 1.5% MoM vs. -0.3% expected and -1.6% previous.          

On an annualized basis, the UK retail sales plunged -6.9% in September versus -5.0% expected and -5.6% prior.

The core retail sales tumbled 6.2% in the reported month versus -4.1% expectations and -5.3% previous.

GBP/CHF trades directionless at 55-EMA support, break below will see weakness in the pair.