GBPJPY Bulls on Guard: Buy the Dip at 206 as Support Holds Firm – Target 208 in Sight 
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USDCHF holds above 0.7950 despite weak US jobs data. Currently trading at 0.79644, it reached an intraday high of 0.79753.
On November 18, 2025, the US Department of Labor shared that initial jobless claims for the week ending November 14 hit 232,000, which is a 13,000 increase from the previous week’s adjusted number of 219,000. This was also above what analysts expected, which was between 220,000 and 225,000. This points to a slight easing in the labor market. The four-week moving average went up to 228,500, continuing claims rose to 1.957 million, and the insured unemployment rate stayed steady at 1.2%. Even with some data hiccups from the earlier 2025 government shutdown, claims are still historically low, hanging around the 200,000 to 250,000 range. This suggests that while the job market is holding up well, it’s gradually cooling off, which might influence the Federal Reserve’s decisions on rate cuts during their meeting on December 10.
Technical Analysis Points to Further Bullishness
The pair is trading above 55-EMA, below the 200 EMA, and 365 EMA on the 1-hour chart, indicating a mixed trend. The immediate resistance is at 0.7975; any break above targets 0.8000/0.8020/0.8070/0.8100/0.8150.
Support Levels and Potential Declines
On the downside, near-term support is around 0.7900; any violation below will drag the pair to 0.7865/0.7800.
Indicators (1-hour chart)
CCI (50) - Bullish
Directional Movement Index - Neutral
Trading Strategy Recommendation
It is good to buy on dips around 0.79500 with SL around 0.7900 for a TP of 0.8090.
