16 Feb 2015
GBP/CHF drops toward 1.4300
FXStreet (Córdoba) - GBP/CHF is falling on Monday, after rising during the previous four trading days. Recently printed a fresh daily low at 1.4293 and it was hovering around 1.4300, 55 pips below the level it closed last week. The pound is the worst performer among European currencies at the beginning of the week.
The pair is pulling back after hitting on Friday at 1.4373 the strongest level since January 15. Despite retreating the short term outlook continues to favor the pound against the Swiss franc as it continues to recover after the dramatically decline that took place last month.
GBP/CHF technical levels
To the upside, immediate resistance might be seen at 1.4340 (intraday level), 1.4370/80 (Feb 13, 16 high) and 1.4400. On the opposite direction, support could be located at 1.4290, 1.4260 (Feb 13 low) 1.4230 and 1.4200.
The pair is pulling back after hitting on Friday at 1.4373 the strongest level since January 15. Despite retreating the short term outlook continues to favor the pound against the Swiss franc as it continues to recover after the dramatically decline that took place last month.
GBP/CHF technical levels
To the upside, immediate resistance might be seen at 1.4340 (intraday level), 1.4370/80 (Feb 13, 16 high) and 1.4400. On the opposite direction, support could be located at 1.4290, 1.4260 (Feb 13 low) 1.4230 and 1.4200.