GBP/CHF may fall 70 - 102 pips

1.1181 is our pivot point.

Our preference

The downside prevails as long as 1.1181 is resistance.

Alternative scenario

The upside breakout of 1.1181, would call for 1.1235 and 1.1268.

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 is trading under both its 20 and 50 period moving average (respectively at 1.1140 and 1.1141). Finally, the GBP/CHF has penetrated its lower Bollinger band (1.1128).

Supports and resistances

1.1268 **

1.1235 *

1.1181 **

1.1160

1.1126 last

1.1056

1.1024 **

1.0991 *

1.0959 **

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