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6 Jan 2015
GBP/CHF drops on Weaker UK PMI Data
FXStreet (Mumbai) - The British pound dropped against the Swiss franc today, after trading in a narrow range in the Asian session, as traders digested fresh Britain’s PMI service data that eased more-than-expected in December.
Currently, the GBP/CHF traded at 1.5329 levels, down -0.19%, having previously posted day’s high at 1.5365 levels. The cross in GBP/CHF slipped after the pound dropped -0.40% to 1.5176 just after the disappointing service activity report. The Swiss franc remains elevated versus the pound despite massive losses seen in the EUR/USD pair.
GBP/CHF Technical Levels
To the upside, the next resistance is located at 1.5398 (Dec 30 High) and above which it could extend gains to 1.5503 (Dec 31 High) levels. To the downside, immediate support might be located at 1.5309 (Jan 5 Low) levels and below that at 1.5278 (Dec 26 Low) levels.
Currently, the GBP/CHF traded at 1.5329 levels, down -0.19%, having previously posted day’s high at 1.5365 levels. The cross in GBP/CHF slipped after the pound dropped -0.40% to 1.5176 just after the disappointing service activity report. The Swiss franc remains elevated versus the pound despite massive losses seen in the EUR/USD pair.
GBP/CHF Technical Levels
To the upside, the next resistance is located at 1.5398 (Dec 30 High) and above which it could extend gains to 1.5503 (Dec 31 High) levels. To the downside, immediate support might be located at 1.5309 (Jan 5 Low) levels and below that at 1.5278 (Dec 26 Low) levels.