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FxWirePro: GBP/CHF bounces off major trendline support, Sterling jumps as May set to win confidence vote

GBP/CHF chart on Trading View used for analysis

  • GBP/CHF bounced off major trendline support and is trading 0.94 higher at 1.2516 at the time of writing.
     
  • Sterling jumps across the board after Germany'S Merkel says still hope we can get an orderly Brexit.
     
  • UK PM May faces a leadership challenge and is set to win according to political analysts. She also said that if she loses, Brexit may be delayed.
     
  • May said that general election at this point in time would not be in national interest. 
     
  • She was further noted saying that the UK wants EU nationals to stay after Brexit and also ruled out a second referendum on Brexit.
     
  • Volatility to continue as Sterling action remains driven by Brexit headlines. 
     
  • Immediate resistance seen at 5-DMA at 1.2529. Major support seen at trendline at 1.2375.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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January 21 03:00 UTC Released

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1.06 1.76

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-1.18 1.76

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-8.15 13.7

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3.87 13.7

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14.66 13.7

January 31 00:00 UTC 511584511584m

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-1541 %

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-1541 %

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January 31 00:00 UTC 511584511584m

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2016 bln ARS

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