GBP/CHF may fall 53 - 78 pips

Our pivot point stands at 1.0911.

Our preference

The downside prevails as long as 1.0911 is resistance.

Alternative scenario

Above 1.0911, look for 1.0955 and 1.0981.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.0921 and 1.0882). Finally, the GBP/CHF is trading below its lower Bollinger band (standing at 1.0879).

Supports and resistances

1.0981 **

1.0955 *

1.0911 **

1.0894

1.0873 last

1.0820

1.0795 **

1.0769 *

1.0743 **

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