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GBP/CHF chart - Trading View
GBP/CHF was trading 0.47% higher on the day at 1.2764 at around 10:30 GMT, upbeat UK Services PMI boosts pound.
The pair is extending bounce off 55-EMA, breakout above cloud will fuel further gains.
IHS Markit UK final Services PMI was revised higher to 62.9 for May from 61.8 flash estimate, the fastest rate of output growth in 24 years.
Upbeat data showed recovery in the UK services sector gained further momentum in May, adding to the optimistic outlook for the nation's economy.
BoE policymaker Gertjan Vlieghe indicated last week that the central bank was likely to raise rates earlier if the economy rebounds more quickly than expected.
Upbeat data further acted as a tailwind for the sterling supporting the pair higher. GBP/CHF on verge of cloud breakout.
Technical analysis support upside, RSI has edged above 50 and is biased higher. Major trend is neutral, breakout above daily cloud will fuel upside.
