GBP/CHF may rise 52 - 73 pips

1.1265 is our pivot point.

Our preference

The upside prevails as long as 1.1265 is support.

Alternative scenario

The downside breakout of 1.1265 would call for 1.1230 and 1.1210.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.1283 and 1.1264).

Supports and resistances

1.1411 **

1.1391 *

1.1370 **

1.1349

1.1297 last

1.1279

1.1265 **

1.1230 *

1.1210 **

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