The BRC Shop Price Index decreased in December, suggesting a weak consumer during the holiday shopping season. Forex traders will get housing data as well as the Markit/CIPS Construction PMI later in today’s trading sessions. The GBPCHF was able to advance after reaching its horizontal support area, but bullish momentum is weak. How will this currency pair react to today’s economic data out of the UK? Today’s fundamental analysis will take a look at price action in both directions.

The Swiss economy has shown signs of weaker growth, after spending most of 2019 outperforming its competitors. The risk-on sentiment has resulted in capital outflows from the Swiss Franc, but the GBPCHF stabilized and is now awaiting the next event that will move price action. Today’s manufacturing PMI is expected to confirm the ongoing contraction. How will this impact price action in this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.