GBP/CHF may rise 37 - 55 pips

Our pivot point is at 1.1477.

Our preference

As long as 1.1477 is support look for 1.1562.

Alternative scenario

Below 1.1477, expect 1.1447 and 1.1429.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.1504 and 1.1499).

Supports and resistances

1.1597 **

1.1579 *

1.1562 **

1.1544

1.1507 last

1.1488

1.1477 **

1.1447 *

1.1429 **

Number of asterisks represents the strength of support and resistance levels.