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FxWirePro: GBP/CHF edges lower from session highs, UK Final Manufacturing PMI for July misses estimates

GBP/CHF chart - Trading View 

GBP/CHF was trading 0.09% higher on the day at 1.1952 at around 11:15 GMT.

The pair has erased gains and has slipped lower from session highs at 1.2035 after UK Final Manufacturing PMI for July misses estimates.

Final report from IHS Markit confirmed earlier on Monday that UK manufacturing sector activity grew less-than-expected in the month of July.

UK Manufacturing Purchasing Managers’ Index (PMI) was revised lower to 53.3 in July versus 53.6 expected and 53.6 in the preliminary report.

Technical bias is titled to the upside as the pair trades above 200H MA and rising volatility. 

That said, fresh UK lockdowns and ahead of the key Bank of England (BOE) monetary policy decision due this Thursday to keep upside limited.

Focus now on the US-UK post-Brexit transition trade talks scheduled later in the day. Headlines out of the meeting could influence price action.

Major Support Levels - 1.1904 (5-DMA), 1.1886 (55-EMA), 1.1861 (21-EMA)

Major Resistance Levels - 1.1962 (converged cloud top, trendline and 55W EMA), 1.2159 (Upper W BB)

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