GBP/CHF may rise 36 - 54 pips

1.1556 is our pivot point.

Our preference

The upside prevails as long as 1.1556 is support.

Alternative scenario

Below 1.1556, expect 1.1526 and 1.1508.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.1572 and 1.1564). Finally, the GBP/CHF is trading above its upper Bollinger band (standing at 1.1585).

Supports and resistances

1.1679 **

1.1661 *

1.1643 **

1.1625

1.1589 last

1.1568

1.1556 **

1.1526 *

1.1508 **

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