empty
 
 
Está a punto de salir de
www.instaforex.eu >
un sitio web operado por
INSTANT TRADING EU LTD
Abrir cuenta

12.07.201912:16 Forex Analysis & Reviews: Analysis of GBP/CHF for July 12, 2019: consolidation to be followed by counter trend

Esta información se proporciona a clientes minoristas y profesionales como parte de comunicación de marketing. No contiene y no debe interpretarse como asesoramiento o recomendación de inversión o una oferta o solicitud para participar en cualquier transacción o estrategia en instrumentos financieros. El desempeño pasado no garantiza o predice el desempeño futuro. Instant Trading EU Ltd. no asume ninguna representación ni responsabilidad sobre la precisión o integridad de la información proporcionada, o cualquier pérdida que surja de cualquier inversión basada en el análisis, pronóstico u otra información proporcionada por un empleado de la Compañía o de otra manera. El descargo de responsabilidad completo está disponible aquí.

The volatility in the GBP/CHF pair has been low with the bearish momentum which is currently consolidating and correcting at the edge of 1.2350 support area.

The British pound has gained momentum despite the comments of BOE Governor Carney who said that a no-deal BREXIT would have immediate troublesome consequences for the economy. He said it while presenting of Financial Stability Report. The BOE Governor also noted that the UK's banking system is still strong enough to continue the lend through the UK economic and financial shocks associated with Brexit. The pre-Brexit hoarding helped the UK economy to start the year on a solid footing but later the momentum was lost due to weak PMI data. The UK GDP growth on a monthly basis was seen to be lower than the previous data indicating weaker economic growth due to the global slowdown and ongoing Brexit uncertainties.

This week, the monthly GDP has turned back returning from -0.4% to 0.3% intervening the decline of the growth forecast of the UK.

On the other hand, the SNB has a plan of a rate cut if the FX interventions fail to dampen the upward pressure on CHF. The cut in the SNB's policy rate in September cannot be ruled out, though it is not the baseline scenario at this stage. The growth forecast for the Swiss franc has also indicated a decline due to the global growth concerns and elevated political uncertainties. The SNB inflation target is set at 0.7% on a yearly basis which is 0.1% up from the projection of last quarter. Switzerland's GDP growth has picked up in the first quarter, comparing to all large economies recording above-average expansion. The yearly retail sales have dropped from -0.8% to -1.7% missing the expectation of 0.6%. Further on, the manufacturing PMI has also dropped from 48.6 to 47.7 while the monthly CPI has declined from 0.3% to 0.0%. This week, the unemployment rate was unchanged at 2.3% down from the forecast of 2.4%.

As of the current scenario, amid better economic reports and optimistic expectations, the swiss franc managed to sustain the bearish pressure against the pound sterling which is expected to continue further until the UK comes up with better solutions for economic slowdown to counter the preceding bearish trend in place.

Now let us look at the technical view. The price is still quite non-volatile with the bearish trend, being held by the dynamic level of 20 EMA as resistance. The price has formed the Bullish Divergence, but it has not been established yet to work against the dominant bears in the process. As the price resides above 1.2350 with a daily close, the chances of bullish intervention will be constant.

Exchange Rates 12.07.2019 analysis

Desarrollado por un InstaForex Analyst
experto de análisis de InstaForex
© 2007-2024

Abra una cuenta de operaciones

¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.




Usted está ahora saliendo de www.instaforex.eu, un sitio web operado por INSTANT TRADING EU LTD
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.

Turn "Do Not Track" off