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8 May 2015
GBP/CHF soars from 3-month lows
FXStreet (Córdoba) - GBP/CHF jumped from 1.3816, the lowest level since January 29 and rose toward 1.4400 boosted by the results of the general elections in the United Kingdom where the Conservative Party won the 326 seats needed to form a majority.
The pound soared across the board and is about to have the best day in years. It is also the best performer over the week.
GBP/CHF was trading around 1.4060 before the first results and then jumped above 1.4300. During the American session extended gains and peaked at 1.4385, the strongest level since last Thursday. In a few hours, the pound went from 3-month lows to 1-week highs against the Swiss franc.
GBP/CHF technical levels
To the upside, the immediate resistance could be located at 1.4400 and above here at 1.4450 (Mar 31 high) and 1.4530. On the opposite direction, support might now lie at 1.4330 (Friday’s Asian session high), 1.4175 and 1.4085.
The pound soared across the board and is about to have the best day in years. It is also the best performer over the week.
GBP/CHF was trading around 1.4060 before the first results and then jumped above 1.4300. During the American session extended gains and peaked at 1.4385, the strongest level since last Thursday. In a few hours, the pound went from 3-month lows to 1-week highs against the Swiss franc.
GBP/CHF technical levels
To the upside, the immediate resistance could be located at 1.4400 and above here at 1.4450 (Mar 31 high) and 1.4530. On the opposite direction, support might now lie at 1.4330 (Friday’s Asian session high), 1.4175 and 1.4085.