Trade balance in April was released at -12.11 B, which is slightly better than the forecast (-13.10B) but we still see the deficit.
On Tuesday economists are expecting the release of Unemployment rate for April.
As a result the British pound fell down against the Swiss currency by 300 points.
On Thursday Swiss National Bank is going to make a decision about the interest rate. Economists expect that SNB will leave the interest rate at the level -0,75%. That is why everybody will be listening to the SNB Press conference.
lines are approaching each other. reversed.
On daily time frame we see that GBP is trying the 1.26000. We see that there is a possibility for a reversal. If GBP/CHF breaks the 9-EMA up (the level 1.26200 approximately) it is possible that the pound will continue to rise. Next target is 1.27000.