19 Dec 2014
GBP/CHF stuck near Technical resistance
FXStreet (Mumbai) - The GBP/CHF pair witnessed a failure to rise above a key technical resistance on daily charts located at 1.5362 levels, after posting one of the biggest singe day gains on Thursday.
The pair currently trades marginally lower at 1.5352, after having failed to extend gains from the day’s high of 1.5379. Swiss franc had weakened sharply on Thursday owing to a surprise negative interest rate announcement by the Swiss National Bank (SNB). Moreover, the pair breached the 50-DMA and 100-DMA level on its way up yesterday, after being supported by a strong UK retail sales data post the SNB’s announcement.
GBP/CHF Technical Levels
The immediate resistance is seen at 1.5362, above which gains could be extended to 1.5412 levels. Meanwhile, support is seen at 1.5326 and 1.5244 levels.
The pair currently trades marginally lower at 1.5352, after having failed to extend gains from the day’s high of 1.5379. Swiss franc had weakened sharply on Thursday owing to a surprise negative interest rate announcement by the Swiss National Bank (SNB). Moreover, the pair breached the 50-DMA and 100-DMA level on its way up yesterday, after being supported by a strong UK retail sales data post the SNB’s announcement.
GBP/CHF Technical Levels
The immediate resistance is seen at 1.5362, above which gains could be extended to 1.5412 levels. Meanwhile, support is seen at 1.5326 and 1.5244 levels.