GBP/CHF chart - Trading View
GBP/CHF was trading 0.33% higher on the day at 1.2789 at around 10:45 GMT.
The pair consolidates above daily cloud and has erased most of previous session's losses.
British pound largely unfazed after mixed CPI data. Downside pressure intact after UK PM Johnson warns of winter covid wave.
The UK Consumer Prices Index (CPI) 12-month rate came in at +0.7% in March, missing expectations at +0.8% and compared to +0.4% in February.
Meanwhile, the core inflation gauge (excluding volatile food and energy items) rose to 1.1% YoY in March versus +0.9% in February, in line with forecast of +1.1%.
The monthly figures showed that the UK consumer prices arrived at +0.3% in March vs. +0.3% expectations and +0.1% prior.
Technical indicators have turned bullish. RSI has edged above the mark and is biased higher. Stochs have rolled over from oversold levels.
Price action has bounced off 200W MA support. We see weakness only on break below.
