GBP/CHF may rise to 1.1796 - 1.1905

Our pivot point stands at 1.1415.

Our preference

The upside prevails as long as 1.1415 is support.

Alternative scenario

Below 1.1415, expect 1.1232 and 1.1122.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.1427 and 1.1383). Finally, the GBP/CHF is trading above its upper Bollinger band (standing at 1.1570).

Supports and resistances

1.2123 **

1.2014 *

1.1905 **

1.1796

1.1572 last

1.1487

1.1415 **

1.1232 *

1.1122 **

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