Chart - Courtesy Trading View
GBP/CHF was trading largely unchanged at 1.1284 at around 08:00 GMT.
UK’s employment data released earlier on Tuesday fails to impress.
Data released by UK’s Office for National Statistics (ONS) showed Claimant Count Change eased to 19.7K versus 30.5K prior.
Further, the Unemployment Rate remained unchanged at 3.7% in line with expectations.
Pessimism surrounding the UK’s labor strikes and downbeat testimony from BoE Governor Andrew Bailey also weigh on the British pound.
Major focus will be on Wednesday’s UK Consumer Price Index (CPI) for impetus. Another soft landing could dent the pound.
Major Support Levels:
S1: 1.1256 (21-EMA)
S2: 1.1212 (20-DMA)
Major Resistance Levels:
R1: 1.1349 (110-EMA)
R2: 1.14
Summary: GBP/CHF likely to extend sideways grind for now. UK CPI data awaited for further direction.
