GBP/CHF may fall 36 - 52 pips

Our pivot point stands at 1.1214.

Our preference

Technical rebound towards 1.1214 before a new drop.

Alternative scenario

Above 1.1214, look for 1.1241 and 1.1257.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (1.1190) but below its 50 period moving average (1.1195).

Supports and resistances

1.1257 **

1.1241 *

1.1214 **

1.1203

1.1191 last

1.1155

1.1139 **

1.1122 *

1.1106 **

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