Flash: GBP breaking resistance and moving higher - UBS

FXstreet.com (Córdoba) - Without any UK specific news on Friday, GBP has broken several key resistance levels against USD, EUR and CHF. The UBS analyst team commented on the matter.

Key Quotes

“With rather disappointing US data before next week’s important Federal Reserve meeting and a weak eurozone industrial production publication on Thursday, market participants seem to be more comfortable in Sterling than in EUR or USD at the moment”.

“This is in line with our expectation that GBP should outperform in coming months and we prefer to be long GBPCHF on the back of that”.