FxWirePro: GBP/CHF trades weak, dip till 1.2900 likely
GBP/CHF has broken major support at 1.3030 and declined till 1.29832. The pair recovered slightly till 1.30293 and is trading around 1.30045. UK jobs data came slightly weaker than expected. UK economy has added 1.1k in …
GBP/CHF has broken major support at 1.3030 and declined till 1.29832. The pair recovered slightly till 1.30293 and is trading around 1.30045. UK jobs data came slightly weaker than expected. UK economy has added 1.1k in this month compared to forecast of 2.0k and wage growth came at 2.2% compared to previous month at 2.1%. The pair broken the low of 1.29832 made yesterday and declined till 1.29660. It is currently trading around 1.29966.
Any convincing break close below 1.2980 will drag the pair to next level till 1.2900/1.2830.
The near term resistance is around 1.3030 (Support turned into resistance) and any break above will take the pair till 1.3100/1.3175. Minor bullishness only above 1.3175.
It is good to sell on rallies around 1.2980-1.2985 with SL around 1.3035 for the TP of 1.2900/1.2835.
