GBP/CHF may rise to 1.1899 - 1.2041

Our pivot point stands at 1.1399.

Our preference

The upside prevails as long as 1.1399 is support.

Alternative scenario

The downside breakout of 1.1399 would call for 1.1161 and 1.1020.

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 1.1411 and 1.1434).

Supports and resistances

1.2325 **

1.2183 *

1.2041 **

1.1899

1.1608 last

1.1492

1.1399 **

1.1161 *

1.1020 **

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