30 Apr 2015
GBP/CHF falls 400 pips from yesterday’s high
FXStreet (Córdoba) - GBP/CHF broke below 1.4355 and accelerated the decline, falling to 1.4299. The pair hit a fresh weekly low and continues to retreat after rising yesterday to the highest level in a month.
Until yesterday the pound was among European currencies, the strongest, but the lost momentum and today is falling sharply again versus the Swissy and also the euro.
GBP/CHF reversal
The GBP/CHF trades slightly above daily lows and it has dropped 200 pips today and 420 pips from yesterday's highs, making a dramatic reversal. Below 1.4300, potential support level might lie at 1.4280 (Apr 14 low) and 1.4260.
During Wednesday, before the FOMC statement, the pair climbed to 1.4710 and then pulled back moderately, finding support at 1.4640. But then, started to fall and accelerated. After finding support during yesterday’s American session above 1.4460, stabilized and moved sideways during the Asian session before resuming the decline.
Until yesterday the pound was among European currencies, the strongest, but the lost momentum and today is falling sharply again versus the Swissy and also the euro.
GBP/CHF reversal
The GBP/CHF trades slightly above daily lows and it has dropped 200 pips today and 420 pips from yesterday's highs, making a dramatic reversal. Below 1.4300, potential support level might lie at 1.4280 (Apr 14 low) and 1.4260.
During Wednesday, before the FOMC statement, the pair climbed to 1.4710 and then pulled back moderately, finding support at 1.4640. But then, started to fall and accelerated. After finding support during yesterday’s American session above 1.4460, stabilized and moved sideways during the Asian session before resuming the decline.