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FxWirePro: GBP/CHF range bound, focus on tomorrow’s crucial parliamentary vote on Brexit deal

GBP/CHF chart on Trading View used for analysis

  • GBP/CHF trades in an narrow range ahead of tomorrow’s crucial parliamentary vote on Brexit deal.
     
  • Technical analysis is highly bearish. Scope for further weakness on charts.
     
  • Momentum studies are bearish, RSI below 50, Stochs sharply lower.
     
  • Price action has broken strong trendline support at 1.2640 and is below all major moving averages.
     
  • The short-term fate of the Pound hangs on whether or not May can get a majority vote for her Brexit Deal tomorrow. 
     
  • Early polling suggests the odds are heavily stacked against the PM as a deeply divided parliament appears set on rejecting the deal in its current format.
     
  • Volatility to persist as Tuesday votes will be the primary driver of Sterling Direction.
     
  • Next bear target lies at 1.250 ahead of 1.2459 (Sept 5 low). Break above 20-DMA could see retest of 200-DMA.

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

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 779618779618m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 779618779618m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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