GBP/CHF may fall 38 - 55 pips

1.1236 is our pivot point.

Our preference

The downside prevails as long as 1.1236 is resistance.

Alternative scenario

Above 1.1236, look for 1.1263 and 1.1279.

Comment

The RSI is below 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 1.1223 and 1.1222).

Supports and resistances

1.1279 **

1.1263 *

1.1236 **

1.1225

1.1210 last

1.1172

1.1155 **

1.1139 *

1.1123 **

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