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GBP/CHF chart - Trading View
GBP/CHF spiked past 110W EMA resistance on Thursday's trade to confirm upside momentum in the pair.
The British pound surged across the board after hawkish vibes from Bank of England (BoE) monetary policy decision.
BoE left interest rates unchanged at 0.1% and the bank’s Asset Purchase Facility at £895Bn in a unanimous vote.
The bank reiterated that it will not tighten monetary policy until it is “achieving the 2% inflation target sustainability” and added that they will not be ready to implement NIRP for at least another six months.
Traders largely ignore a downbeat construction PMI data and GBP/CHF spiked over 0.75% to close at 1.2357 on Thursday.
The pair is consolidating previous session's gains. Bias remains strongly bullish. Scope for test of 61.8% Fib at 1.2471.
