GBP/CHF may rise 34 - 50 pips

Our pivot point is at 1.1159.

Our preference

Our next up target stands at 1.1237.

Alternative scenario

Below 1.1159, expect 1.1132 and 1.1116.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.1178 and 1.1183).

Supports and resistances

1.1270 **

1.1253 *

1.1237 **

1.1221

1.1187 last

1.1170

1.1159 **

1.1132 *

1.1116 **

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