GBP slips

Since the start of the day, the GBP/CHF has taken a nosedive; it lost close to 200 pips in 12 hours of trading. After hitting its highest level at 2.4739 during the early morning, the pair is trading around 2.4570 at the moment. With no economic indicators from either pair to trade on, the market most likely reacted to the pound’s ascension toward a 6 year high.Traders were not able to break the 2001 high as profit takers began to exit their positions.