Here are the key factors to keep in mind today for British Pound trades:
- UK BRC Like-for-Like Sales: UK BRC Like-for-Like Sales for November decreased by 0.5% annualized. Economists predicted an increase of 0.3% annualized. Forex traders can compare this to UK BRC Like-for-Like Sales for October which increased by 0.1% annualized.
- UK Markit/CIPS Construction PMI: The UK Markit/CIPS Construction PMI for November is predicted at 52.5. Forex traders can compare this to the UK Markit/CIPS Construction PMI for October which was reported at 53.2.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for November is predicted to decrease by 0.1% monthly and to increase by 1.0% annualized. Forex traders can compare this to the Swiss CPI for October which increased by 0.2% monthly and by 1.1% annualized. The Swiss Core CPI for November is predicted to increase by 0.4% annualized. Forex traders can compare this this to the Swiss Core CPI for October which increased by 0.4% annualized. The Swiss EU Harmonized CPI for November is predicted to decrease by 0.1% monthly and by 1.1% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for October which increased by 0.2% monthly and by 1.1% annualized.
Should price action for the GBPCHF remain inside the or breakout above the 1.2675 to 1.2705 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.2685
- Take Profit Zone: 1.3115 – 1.3170
- Stop Loss Level: 1.2600
Should price action for the GBPCHF breakdown below 1.2675 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.2625
- Take Profit Zone: 1.2460 – 1.2500
- Stop Loss Level: 1.2685
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
