FXStreet (Córdoba) – After a modest correction yesterday, GBP/CHF resumed the upside and rallied above 1.4700 for the first time in three months. The pair is breaking a key level that could open the doors for further gains toward 1.50.
Today the pair is about post the highest close since mid-March but is about to end far from the highs. Before the US session climbed from 1.14650 to 1.4790 but then pulled back and dropped finding support at 1.4710/20. Currently trades at 1.4720/25, more than 50 pips above the level it had yesterday.
GBP/CHF technical levels
To the upside, immediate resistance lies at 1.4760/65 (June 23 high) and then 1.4800. On the opposite direction, support levels could be located at 1.4710 and then 1.4660 and 1.4630 (daily low).
(Market News Provided by FXstreet)