GBP/CHF may fall 38 - 54 pips

1.1500 is our pivot point.

Our preference

The downside prevails as long as 1.1500 is resistance.

Alternative scenario

Above 1.1500, look for 1.1527 and 1.1543.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.1485 and 1.1497). Finally, the GBP/CHF is trading below its lower Bollinger band (standing at 1.1473).

Supports and resistances

1.1543 **

1.1527 *

1.1500 **

1.1489

1.1468 last

1.1430

1.1414 **

1.1398 *

1.1382 **

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