GBP/CHF set for possible downtrend.

2 May

The current price of GBP/CHF is testing the upper limit of a zone where it has been repeatedly rejected in the past, suggesting a potential upcoming bearish movement. This prediction is reinforced by a significant rise in Switzerland's April Consumer Price Index (CPI), which exceeded expectations by reaching +1.4% compared to the anticipated +1.1%. The initial support or target area is expected to be around 1.1230, with the possibility of GBP/CHF further declining to approximately 1.1100 if the bearish trend persists. For more information, refer to the accompanying chart.