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GBP/CHF chart on Trading View used for analysis
- GBP/CHF bounced off major trendline support and is trading 0.94 higher at 1.2516 at the time of writing.
- Sterling jumps across the board after Germany'S Merkel says still hope we can get an orderly Brexit.
- UK PM May faces a leadership challenge and is set to win according to political analysts. She also said that if she loses, Brexit may be delayed.
- May said that general election at this point in time would not be in national interest.
- She was further noted saying that the UK wants EU nationals to stay after Brexit and also ruled out a second referendum on Brexit.
- Volatility to continue as Sterling action remains driven by Brexit headlines.
- Immediate resistance seen at 5-DMA at 1.2529. Major support seen at trendline at 1.2375.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
