GBPCHF Chart - Updated Forex Chart for GBP CHF Pair

Spotlight on Pound Crosses (GBPSGD and GBPCHF)

Published June 3, 2019 by: Steve Miley | Share:

Given ongoing concerns regarding a “no deal” Brexit or a snap UK General Election, the Pound (GBP) continues to slide lower against many major currencies, not just against the US Dollar (the much-watched Cable Forex Rate, GBPUSD).

These concerns have been heightened by the resignation of Prime Minister Theresa May and a leadership contest for the Conservative party, which has increased uncertainty.

Here we spotlight the intermediate-term risks into June for The Pound versus T

the Singapore Dollar and against the Swiss Franc, GBPSGD and GBPCHF.

GBPSGD

A selloff throughout May down from 1.2961 through 1.7549 set an intermediate-term bear trend, reinforced more recently by the probe below the February 2019 swing low at 1.7352.

This leaves the irks lower for both early June and potentially through the month ahead.

Intermediate-term Outlook – Downside Risks: We see a downside risk for .17171.

Lower targets would be 1.7016/00, 1.6674 and possibly 1.6232

What Changes This? Above 1.7555 shifts the outlook back to neutral; above 1.7635 is needed for a bull theme.

Daily GBPSGD Chart

GBPCHF

Nearly a one way plunge lower throughout May, breaking out from a multi-month Triangle type pattern, or even confirming an intermediate-term Double Top below 1.2915, with losses right into the end of May keeping risks lower for early June at least, likely beyond.

Intermediate-term Outlook – Downside Risks: We see a downside risk for 1.2529.

Lower targets would be 1.2419, 1.2305 and maybe toward 1.2000

What Changes This? Above 1.2796 shifts the outlook back to neutral; above 1/2936 is needed for a bull theme.

Daily GBPCHF Chart

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GBP/CHF – Live and Historical Rates

The GBP/CHF pair is one in which both currencies are majors. The pair itself is not a major though and it quite obviously is not a commodity pair either. The chart above depicts the amount of Swiss Francs one will need to purchase a British Pound.

The GBP

The world’s oldest currency still in circulation today, the GBP is much more for the UK than simple legal tender. It is a sort of symbol of sovereignty, and the British people have indeed stuck to it through the years of their country’s EU membership. Now, with Brexit looming on the horizon, the GBP looks like it’s here to stay, despite the hit it took in the wake of the referendum. The authority in control of the GBP is the Bank of England, located in London, the financial capital of the world. London is also a major forex trading hub.

The CHF

Despite its forex popularity, the Swiss Franc is only the 7th most popular reserve currency in the world. Given the size of the country whose currency it is, that is however quite an impressive accomplishment. Switzerland’s economy is one of the strongest in the world. Powered by massive financial- and services sectors and backed by huge gold-reserves, the CHF’s status as a major currency is indeed fully justified. While the EU is indeed by far the biggest trading partner of the country, Switzerland has never even considered joining the EU or the Eurozone and that stance is not likely to change in the future.

GBPCHF Analysis

Trading opportunity-wise, the GBP/CHF pair is indeed a very interesting one. Both countries have refused the EUR, yet both are major trading partners of the EU. The two economies are rather similarly built as well. The stability of the CHF and the volatility of the GBP create decent carry trading opportunities.

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