GBP/CHF may rise 36 - 51 pips

1.1382 is our pivot point.

Our preference

Rebound.

Alternative scenario

The downside breakout of 1.1382 would call for 1.1356 and 1.1340.

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 stands above its 20 period moving average (1.1408) but below its 50 period moving average (1.1411).

Supports and resistances

1.1492 **

1.1476 *

1.1460 **

1.1445

1.1409 last

1.1393

1.1382 **

1.1356 *

1.1340 **

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