18 Nov 2015
GBP/CHF jumps to 1.55, strongest level since January
FXStreet (Córdoba) - The pound is rising for the seventh time out of the last eight days against the Swiss Franc. Recently GBP/CHF reached levels on top of 1.5500 for the first time since January. A week ago it was at 1.5200.
The pair is holding at the strongest level since January. Back then it was moving with a bullish bias until the decision of the Swiss National Bank to remove the EUR/CHF floor triggered a sharp appreciation of CHF across the board, pushing the pair below 1.30.
Yesterday GBP/CHF broke the 1.5400 resistance area and gained momentum. Today it continued to rise as the Swiss franc weakened across the board with USD/CHF rallying toward 1.0200.
GBP/CHF technical levels
To the upside, resistance levels might lie at 1.5500/10 (psychological level), 1.5620 and 1.5690 (Feb 2011 highs). On the opposite direction, support now could be located at 1.5400/10 (previous resistance), 1.5210 (20-day MA) and 1.5110/20 (Sep highs).
The pair is holding at the strongest level since January. Back then it was moving with a bullish bias until the decision of the Swiss National Bank to remove the EUR/CHF floor triggered a sharp appreciation of CHF across the board, pushing the pair below 1.30.
Yesterday GBP/CHF broke the 1.5400 resistance area and gained momentum. Today it continued to rise as the Swiss franc weakened across the board with USD/CHF rallying toward 1.0200.
GBP/CHF technical levels
To the upside, resistance levels might lie at 1.5500/10 (psychological level), 1.5620 and 1.5690 (Feb 2011 highs). On the opposite direction, support now could be located at 1.5400/10 (previous resistance), 1.5210 (20-day MA) and 1.5110/20 (Sep highs).