Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for January is predicted to decrease by 0.6% monthly and to increase by 2.9% annualized. Forex traders can compare this to the UK CPI for December which increased by 0.4% monthly and by 3.0% annualized. The Core CPI for January is predicted to increase by 1.6% annualized. Forex traders can compare this to Core CPI for December which increased by 2.5% annualized.
- UK PPI: The UK PPI Input for January is predicted to increase by 0.6% monthly and by 4.1% annualized. Forex traders can compare this to the UK PPI Input for December which increased by 0.1% monthly and by 4.9% annualized. The UK PPI Output for January is predicted to increase by 0.2% monthly and by 3.0% annualized. Forex traders can compare this to the UK PPI Output for December which increased by 0.4% monthly and by 3.3% annualized. The UK PPI Core Output for January is predicted to increase by 0.2% monthly and by 2.3% annualized. Forex traders can compare this to the UK PPI Core Output for December which increased by 0.3% monthly and by 2.5% annualized.
- UK RPI: The UK RPI for January is predicted to decrease by 0.7% monthly and to increase by 4.1% annualized. Forex traders can compare this to the UK RPI for December which increased by 0.8% monthly and by 4.1% annualized. The UK RPI Excluding Mortgage Interest Payments for January is predicted to increase by 4.1% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for December which increased by 4.2% annualized.
- UK House Price Index: The UK House Price Index for December is predicted to increase by 4.9% annualized. Forex traders can compare this to the UK House Price Index for November which increased by 5.1% annualized.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Producer & Import Prices: Swiss Producer & Import Prices for January increased by 0.3% monthly and by 1.8% annualized. Forex traders can compare this to Swiss Producer & Import Prices for December which increased by 0.2% monthly and by 1.8% annualized.
Should price action for the GBPCHF remain inside the or breakout above the 1.2940 to 1.2980 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.2965
- Take Profit Zone: 1.3450 – 1.3490
- Stop Loss Level: 1.2900
Should price action for the GBPCHF breakdown below 1.2940 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.2910
- Take Profit Zone: 1.2800 – 1.2840
- Stop Loss Level: 1.2965
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
