Here are the key factors to keep in mind today for British Pound trades:
- UK Consumer Credit and Net Lending Securities on Dwellings: UK Consumer Credit for February was reported at £1.44B. Economists predicted a figure of £1.30B. Forex traders can compare this to UK Consumer Credit for January which was reported at £1.61B. Net Lending Securities on Dwellings for February was reported at £3.50B. Economists predicted a figure of £3.50B. Forex traders can compare this to Net Lending Securities on Dwellings for January which was reported at £3.20B.
- UK Mortgage Approvals: UK Mortgage Approvals for February were reported at 68.3K. Economists predicted a figure of 69.5K Forex traders can compare this to UK Mortgage Approvals for January which were reported at 69.1K.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss UBS Consumption Indicator: The Swiss UBS Consumption Indicator for February was reported at 1.50. Forex traders can compare this to the Swiss UBS Consumption Indicator for January which was reported at 1.44.
- Swiss ZEW Expectations Survey: The Swiss ZEW Expectations Survey for March was reported at 29.6. Forex traders can compare this to the Swiss ZEW Expectations Survey for February which was reported at 19.4.
Should price action for the GBPCHF remain inside the or breakout above the 1.2325 to 1.2375 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.2350
- Take Profit Zone: 1.2800 – 1.2900
- Stop Loss Level: 1.2200
Should price action for the GBPCHF breakdown below 1.2325 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.2275
- Take Profit Zone: 1.2100 – 1.2200
- Stop Loss Level: 1.2375
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
