GBPCHF May Rise to 1.4973, 1.5124 in Bullish Technicals

        0428 GMT [Dow Jones] Spot GBP/CHF is trading with a buoyant tone in Asian trade Friday after the Markit/CIPS U.K. manufacturing PMI rose to a five-month high of 57.3 in April from 55.8 in March. Dow Jones technical analysis shows GBP/CHF short-term technical outlook is positive as the five-day moving average is above the advancing 15-day moving average. A breach of immediate resistance at the April 22 reaction high of 1.4904 would open the way up to the Feb. 17 reaction high of 1.4973, and then to the Jan. 23 swing high of 1.5124. But a drop below Tuesday's reaction low of 1.4763 would temper the bullish short-term GBP/CHF view. Spot GBP/CHF was recently at 1.4847. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        May 02, 2014 00:28 ET (04:28 GMT)