Market Commentary and Intraday News

Pound Drops To 5-day Low Against Euro And Swiss Franc

201 days ago

(RTTNews) - Extending yesterday's downtrend, the pound reached 5-day lows of 1.5001 against the Swiss franc and 0.8059 against the euro in early Asian deals Tuesday. This was down 0.09 percent and 0.13 percent each from Monday's New York session closing values of 0.8051 against the euro and 1.5021 versus the Swiss franc.

The GBP/CHF pair is staying in a descending channel in higher-time frames with 1.4950 and 1.4840 seen as its next key levels to watch on the downside. The pound is also poised to extend its decline against the euro as the cross is in an ascending channel in its higher-time frames with key supply levels are expected to be broken at 0.81, 0.8150 and 0.8170.

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