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2 Jan 2015
GBP/CHF drops below 1.55
FXStreet (Mumbai) - The GBP/CHF pair fell below 1.55 levels ahead during the European session after clocking a high of 1.5529 levels earlier today.
The pair currently trades at largely unchanged for the day at 1.5483 levels. Moreover, the Pound has come under pressure against the greenback as investors await the UK the final print of the UK manufacturing PMI data, which is likely to come-in at 53.6, compared to the preliminary reading of 53.5. The GBP/USD pair has weakened 0.38%, while the USD/CHF is up 0.46%. The Swiss Franc, with the negative interest rates, has weakened sharply against the US dollar since mid December.
The GBP/CHF pair may fall into the red, if the UK data highlights contraction in the manufacturing activity in December.
GBP/CHF Technical Levels
The immediate resistance is located at 1.5502, above which gains could be extended to 1.5529 levels. Meanwhile, support is seen at 1.5471 and 1.5441 (5-DMA) levels.
The pair currently trades at largely unchanged for the day at 1.5483 levels. Moreover, the Pound has come under pressure against the greenback as investors await the UK the final print of the UK manufacturing PMI data, which is likely to come-in at 53.6, compared to the preliminary reading of 53.5. The GBP/USD pair has weakened 0.38%, while the USD/CHF is up 0.46%. The Swiss Franc, with the negative interest rates, has weakened sharply against the US dollar since mid December.
The GBP/CHF pair may fall into the red, if the UK data highlights contraction in the manufacturing activity in December.
GBP/CHF Technical Levels
The immediate resistance is located at 1.5502, above which gains could be extended to 1.5529 levels. Meanwhile, support is seen at 1.5471 and 1.5441 (5-DMA) levels.