GBPCHF is declining after forming a top around 1.34695 on Dec 8th 2017. The pair hits low of 1.3140 and shown a minor jump till 1.32215. It is currently trading around 1.32214. Market awaits major data UK construction PM…
GBPCHF is declining after forming a top around 1.34695 on Dec 8th 2017. The pair hits low of 1.3140 and shown a minor jump till 1.32215. It is currently trading around 1.32214.
Market awaits major data UK construction PMI for further direction. On the higher side, near term resistance is around 1.3230 (20- day MA) and any break above will take the pair to next level till 1.3290 (Dec 27th 2017 high)/1.3307 (Dec 14th 2017 high)/1.33405 (61.8% fibo).
The major weakness can be seen below 1.3115 (55- EMA) and any break below will drag the pair to next level till 1.3020 (61.8% fibo)/1.2990/1.2940 (100- day MA).
It is good to buy on dips around 1.3175-80 with SL around 1.3115 for the TP of 1.3300/1.3340.
