- In the Economic calendar of today we can expect some volatility in GBP, EUR, and USD
- At 09:30 (GMT) the Governor of the Bank of England, Andrew Bailey, will give a speech
- His words may affect the GBP in the short term
- At 12:00 (GMT) the Statistical office of European Union will release the Harmonized Index of Consumer Prices (HICP) for Germany
- The HICP is a measure of prices used by Governing Council of EU to define and assess price stability in the euro area in quantitative terms
- The result is forecasted to increase to 0.6% considering the last month that was at 0.5%
- At 14:00 (GMT) the National Association of Realtors of USA will announce their Pending Home Sales
- The above captures residential housing contract activity of existing single-family homes
- The result is forecasted to increase to 19.9% considering the last month that was at -21.8%
On the charts
- As we can observe on GBP/CHF daily chart, the price has broken below the blue upward trendline, retested it and moved to the downside
- Recently, the price has broken below the previous support and is now at 1.15739
- Price is below the 10 (red) and 20 (green) days Moving Averages
- The 10 days crossed to the downside the 20days
- MACD has crossed its signal line to the downside while both are below zero
- Momentum indicator is in downtrend while is below its 20 days Moving Average
- Considering the above, we may see the price moving lower to 1.14200, the 161.8% Fibonacci Extension Level (1.17279 – 1.22580)