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25 Apr 2013
Forex: GBP/CHF rallies to 1.4575 on UK GDP Q1
FXstreet.com (Barcelona) - Having peaked at 1.4499 during the Asian session, the cross erased its gains ahead of hard data in the UK. The publication of a surprisingly higher UK GDP Q1 than expected made the GBP/CHF rally to 1.4575 high in a matter of few minutes.
The preliminary release of UK GDP Q1 shows a 0.3% quarterly rise, beating the 0.1% consensus, while the annualized figure rose from 0.2% to 0.6%, beating 0.3% expectations. The UK Index of Services rose from -0.2% to 0.1% but stayed below the 0.2% consensus.
The GBP/CHF is extending its 2-month highs. Above, there’s 1.4600 mark, 1.4867 (December high) and 1.5000 psychological level. On the downside, supports might be found at 1.4537 (February low) and 1.4475 (March low).
The preliminary release of UK GDP Q1 shows a 0.3% quarterly rise, beating the 0.1% consensus, while the annualized figure rose from 0.2% to 0.6%, beating 0.3% expectations. The UK Index of Services rose from -0.2% to 0.1% but stayed below the 0.2% consensus.
The GBP/CHF is extending its 2-month highs. Above, there’s 1.4600 mark, 1.4867 (December high) and 1.5000 psychological level. On the downside, supports might be found at 1.4537 (February low) and 1.4475 (March low).