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GBP/CHF drops 200 pips

FXStreet (Córdoba) - Cable dropped sharply against the Swiss franc on Tuesday for the second day in a row and reached the lowest price in four week. Since the beginning of the week GBP/CHF lost more than 200 pips.

The pair is trading at the lows, around 1.5166, at the lowest level since September 17, headed toward the lowest daily close in a month

GBP/CHF reversal

At the beginning of the month, the pair reached 1.5533, the highest price since 2011. Since then its moving with a downside bias, losing ground on eight out of the last ten trading days, retreating 360 pips from the highs, affected by weak data from the United Kingdom and risk aversion.

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