- GBPCHF is declining after forming a top around 1.34695 on Dec 8th 2017. The pair hits low of 1.3140 and shown a minor jump till 1.32215. It is currently trading around 1.32214.
- Market awaits major data UK construction PMI for further direction. On the higher side, near term resistance is around 1.3230 (20- day MA) and any break above will take the pair to next level till 1.3290 (Dec 27th 2017 high)/1.3307 (Dec 14th 2017 high)/1.33405 (61.8% fibo).
- The major weakness can be seen below 1.3115 (55- EMA) and any break below will drag the pair to next level till 1.3020 (61.8% fibo)/1.2990/1.2940 (100- day MA).
It is good to buy on dips around 1.3175-80 with SL around 1.3115 for the TP of 1.3300/1.3340.