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18 Sep 2013
GBP/CHF upwards ahead of MPC
FXstreet.com (Athens)- The GBP/CHF is moving upwards since the early opening of the Asian trading session, as the traders anticipate a more “hawkish” MPC.
The GBP/CHF moves on the upper level in the anticipation of a more hawkish MPC
While yesterday the pair came under severe pressure, as the inflation data in the UK proved to be softer than expected for a second consecutive month, today the pair pared some of its yesterday losses and moves steadily upwards. We could say that this uptrend reversal movement, could be attributed to MPC, as the investors are awaiting for a hawkish stance on behalf of the BoE. Indeed, it quite probable that the policy statement on of MPC will prop up the pound, as a growing number of central bank officials appear to be turning increasingly upbeat towards the economy. Should there is another unanimous vote on behalf of the BoE in a combination with a more material shift in the policy outlook and we might see the pair to move further upwards.
Technical Outlook on GBP/CHF
At the time of writing the pair is trading at 1.4740, up 0.09% and not far way from its daily high as of 1.4743. The FXstreet.com Trend Index shows the pair to be slighty bullish in the 15 minutes timeframe. Daily pivot point support can be found at 1.4700, 1.4648, 1.4612 and resistance at 1.4783, 1.4800 and 1.4820, respectively. At
The GBP/CHF moves on the upper level in the anticipation of a more hawkish MPC
While yesterday the pair came under severe pressure, as the inflation data in the UK proved to be softer than expected for a second consecutive month, today the pair pared some of its yesterday losses and moves steadily upwards. We could say that this uptrend reversal movement, could be attributed to MPC, as the investors are awaiting for a hawkish stance on behalf of the BoE. Indeed, it quite probable that the policy statement on of MPC will prop up the pound, as a growing number of central bank officials appear to be turning increasingly upbeat towards the economy. Should there is another unanimous vote on behalf of the BoE in a combination with a more material shift in the policy outlook and we might see the pair to move further upwards.
Technical Outlook on GBP/CHF
At the time of writing the pair is trading at 1.4740, up 0.09% and not far way from its daily high as of 1.4743. The FXstreet.com Trend Index shows the pair to be slighty bullish in the 15 minutes timeframe. Daily pivot point support can be found at 1.4700, 1.4648, 1.4612 and resistance at 1.4783, 1.4800 and 1.4820, respectively. At