FxWirePro: GBP/CHF upside capped by 61.8% fibo, good to sell on rallies
GBP/CHF has formed a temporary bottom at 1.2955 and recovered sharply from that level. The pair hits high of 1.31850 and shown a minor decline. GBP was trading higher against all majors on account of positive development…
GBP/CHF has formed a temporary bottom at 1.2955 and recovered sharply from that level. The pair hits high of 1.31850 and shown a minor decline. GBP was trading higher against all majors on account of positive developments on Brexit and good economic data. It is currently trading around 1.30500.
Any convincing break close below 1.2950 will drag the pair to next level till 1.2900/1.2830.
The near term resistance is around 1.3100 and any break above will take the pair till 1.3185/1.3200. Minor bullishness only above 1.3200 (61.8% Fibo).
It is good to sell on rallies around 1.2980-1.2985 with SL around 1.3035 for the TP of 1.2900/1.2835.
