GBPCHF Analysis
GBPCHF reached the higher low area of the Ascending channel.
GBPCHF Update
GBPCHF is consolidating at the higher low area, which leads to the SL price. However, GBPCHF still have chances to rebound from the higher low area.
Reason: Due to the release of more economic news mentioned below, the market is not making technical movements at this time.
Why CHF is Stronger
Safe-Haven Demand – Uncertainty in the Middle East may increase demand for the Swiss Franc.
SNB Rate Stability – Expectations that the SNB will keep its policy rate unchanged may support CHF.
Inflation Watch – If the SNB raises its inflation forecast, investors may see less room for future rate cuts, supporting the Franc.
Why GBP is Weaker
Slowing UK Growth – September’s PMI fell below expectations, pointing to weaker services activity and slower overall growth.
Fewer BoE Rate Hikes Expected – Investors may scale back their expectations for future UK rate hikes, reducing support for the Pound.
Tighter Fiscal Outlook – The prospect of more restrictive UK fiscal policy could weigh on growth and GBP.
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