FxWirePro: EUR/CHF edges higher after 5 straight days of weakness, upbeat German retail sales buoys euro
FxWirePro: GBP/CHF tests 50-DMA, strong UK CPI raises chances of BOE rate hike
GBP/CHF chart - Trading View
GBP/CHF was trading 0.29% higher on the day at 1.2668 at around 08:30 GMT.
The British pound was buoyed after strong UK CPI stoked chances of a BOE rate hike.
Data released earlier today showed UK Consumer Prices Index (CPI) 12-month rate came in at +2.1% in May, beating estimates at +1.8% and compared to +1.5% in April.
Meanwhile, the core CPI rose by 2.0% YoY last month versus +1.5% registered in April, matching the consensus forecast of +1.5%.
The monthly figures showed that the UK consumer prices arrived at +0.6% in May vs. +0.3% expectations and +0.6% prior.
GBP/CHF erased most of the previous session's losses and is testing 50-DMA resistance at 1.2691. Decisive break above will buoy bulls.
Major trend in the pair is neutral. Break above cloud will change near-term dynamics. Rejection at 50-DMA will negate any upside bias.