FxWirePro: GBP/CHF consolidates above 200-DMA, pound largely unchanged after UK CPI miss

GBP/CHF chart - Trading View 

GBP/CHF was trading 0.05% lower at 1.1913 at around 07:20 GMT, consolidating previous session spike above 200-DMA.

The British pound showed little reaction to UK CPI miss as downside remains cushioned amid Brexit optimism.

Irish PM Martin said he expects clarity on a Brexit deal by the weekend, speculation remains rife over a potential deal.

On the data front, UK annualized CPI missed estimates with 0.3% in Nov, compared to +0.7% in October and expectations of a +0.6% print.

Meanwhile, the core inflation gauge arrived at +1.1% YoY last month versus +1.5% booked in October while missing the consensus forecast of +1.4%.

The monthly figures showed that the UK consumer prices arrived at -0.1% in November vs. +0.1% expected and 0% prior.

GBP/CHF has closed above 200-DMA on Tuesday's trade and is currently on verge of cloud breakout.

Stochs and RSI are showing a rollover from oversold levels and 5-DMA has turned higher. Breakout above cloud will fuel further gains.

That said, major trend is bearish and upside is likely to be limited. 20-DMA offers major resistance at 1.1983.