29 Jan 2015
GBP/CHF rises above 1.3900, 2-week highs
FXStreet (Córdoba) - GBP/CHF broke above 1.3840 (Jan 27 high) and jumped to 1.3928 reaching the strongests level since January 15, when the Swiss National Bank abandoned the EUR/CHF peg at 1.20. The pair rose more than 200 pips from European session lows.
The rally is being driven by a decline of the Swiss franc across the board, that accelerated during the last two hours. The pound has risen in six out of the last seven trading days against the Swiss franc, climbing almost a thousand pips in that period.
GBP/CHF technical levels
To the upside, resistance levels might lie at 1.3975, 1.4000 (psychological level) and 1.4105. On the opposite direction, support could be located at 1.3840/50 (Jan 27 high), 1.3805, 1.3760 and 1.3730 (European session low).
The rally is being driven by a decline of the Swiss franc across the board, that accelerated during the last two hours. The pound has risen in six out of the last seven trading days against the Swiss franc, climbing almost a thousand pips in that period.
GBP/CHF technical levels
To the upside, resistance levels might lie at 1.3975, 1.4000 (psychological level) and 1.4105. On the opposite direction, support could be located at 1.3840/50 (Jan 27 high), 1.3805, 1.3760 and 1.3730 (European session low).