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14 May 2015
GBP/CHF retreats further
FXStreet (Córdoba) - The pound is falling against the Swiss franc for the second day in a row retreating further after reaching yesterday weekly highs at 1.4608.
GBP losses strength
The pound, that jumped in the market last week and rose further on Wednesday after the release of employment in the United Kingdom, lost strength with the outlook presented with the Bank of England inflation report yesterday.
Today GBP/CHF bottomed during the European session at 1.4340, hitting the lowest level since Monday. The decline stopped above Monday’s lows and from there the pound rebounded but the recovery was capped by the short term resistance area located around 1.4435/40.
Currently the pair trades at 1.4390 still holding a bearish tone for the coming hours. A break above 1.4440 could change the intraday perspective.
GBP losses strength
The pound, that jumped in the market last week and rose further on Wednesday after the release of employment in the United Kingdom, lost strength with the outlook presented with the Bank of England inflation report yesterday.
Today GBP/CHF bottomed during the European session at 1.4340, hitting the lowest level since Monday. The decline stopped above Monday’s lows and from there the pound rebounded but the recovery was capped by the short term resistance area located around 1.4435/40.
Currently the pair trades at 1.4390 still holding a bearish tone for the coming hours. A break above 1.4440 could change the intraday perspective.