GBP/CHF will bounce back from its previous low

The pair will bounce back from its previous low, sending the pair higher towards the nearest resistance line. Investors began to increase their holdings of the British pound on Friday, July 24, following the better-than-expected reports by Britain. The country’s Composite, Manufacturing, and Services PMI report all posted above 50 points figures for their most recent report. The numbers were 57.1, 53.6, and 56.6, respectively. All of whom were higher than the prior month’s report and expectations by analysts. The Swiss franc is still trading higher against other currencies and will continue to do so after the Fitch Ratings agency reaffirmed its AAA and stable outlook to the country. This was despite the huge impact of the lockdown not only in the country but also among its neighboring European Union countries. However, the positive figures from the United Kingdom might force investors to put their investments in economies showing positive growths.