Forex Market: GBP/CHF trading outlook for April 25th

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

Friday’s trade saw GBP/CHF within the range of 1.3958-1.4123. The pair closed at 1.4097, surging 0.92% on a daily basis. It has been the 15th gain in the past 23 trading days, a 6th consecutive one and also the steepest one since February 1st, when the pair went up 0.97%. The daily high has been the highest level since March 15th, when a high of 1.4144 was registered. In weekly terms, GBP/CHF added 2.64% to its value during the current week. It has been the 6th gain in the past 16 weeks, a second consecutive one and also the sharpest one since the week ended on July 19th 2015, when it advanced 2.90%. The minor pair has appreciated 2.06% so far during the current month, following four successive months of decline. In March the pair went down 0.60%.

No relevant macroeconomic reports and other events, which may influence GBP/CHF trading, are scheduled on Monday (April 25th).

Correlation with other currency pairs

Taking into account the business week ended on April 22nd and the daily closing levels of the currency pairs involved, we come to the following conclusions in regard to the strength of relationship:

GBP/CHF to GBP/BGN (0.9352, or very strong)
GBP/CHF to USD/CHF (0.9214, or very strong)
GBP/CHF to USD/JPY (0.9086, or very strong)
GBP/CHF to GBP/USD (0.6084, or strong)
GBP/CHF to USD/CAD (-0.4740, or moderate)
GBP/CHF to AUD/USD (-0.5563, or strong)
GBP/CHF to NZD/USD (-0.7077, or strong)
GBP/CHF to EUR/USD (-0.8384, or very strong)

1. During the examined period GBP/CHF moved strongly in one and the same direction with GBP/USD.

2. GBP/CHF moved strongly in the opposite direction compared to AUD/USD and NZD/USD during the week.

3. GBP/CHF moved almost equally in one and the same direction with USD/JPY, USD/CHF and GBP/BGN during the period in question. This relationship has been the most pronounced between GBP/CHF and GBP/BGN.

4. GBP/CHF moved almost equally in the opposite direction compared to EUR/USD during the week.