GBP/CHF may rise 66 - 98 pips

Our pivot point is at 1.1087.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1.1087 would call for 1.1033 and 1.1001.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (1.1124) but under its 50 period moving average (1.1146). Finally, the GBP/CHF has crossed above its upper Bollinger band (1.1138).

Supports and resistances

1.1304 **

1.1271 *

1.1239 **

1.1207

1.1141 last

1.1109

1.1087 **

1.1033 *

1.1001 **

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