Here are the key factors to keep in mind today for British Pound trades:
- UK Markit/CIPS Construction PMI: The UK Markit/CIPS Construction PMI for April is predicted at 50.3. Forex traders can compare this to the UK Markit/CIPS Construction PMI for March which was reported at 49.7.
- Bank of England Interest Rate Decision, Asset Purchase Target and Corporate Bond Target: The Bank of England is predicted to keep interest rates at 0.75%, the Asset Purchase Target £435B and the Corporate Bond Target at £10B. Forex traders can compare this to the previous Bank of England meeting where the UK central bank decided to keep interest rates at 0.75%, the Asset Purchase Target £435B and the Corporate Bond Target at £10B.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Retail Sales: Swiss Retail Sales for March are predicted to decrease by 0.4% annualized. Forex traders can compare this to Swiss Retail Sales for February which decreased by 0.2% annualized.
- Swiss Manufacturing PMI: The Swiss Manufacturing PMI for April is predicted at 51.0. Forex traders can compare this to the Swiss Manufacturing PMI for March which was reported at 50.3.
Should price action for the GBPCHF remain inside the or breakdown below the 1.3235 to 1.3330 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.3275
- Take Profit Zone: 1.2855 – 1.2990
- Stop Loss Level: 1.3420
Should price action for the GBPCHF breakout above 1.3330 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.3365
- Take Profit Zone: 1.3570 – 1.3645
- Stop Loss Level: 1.3275
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
