GBP/CHF ST: above its upper Bollinger band
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1.0922 is our pivot point.
Our preference: the upside prevails as long as 1.0922 is support.
Alternative scenario: the downside breakout of 1.0922 would call for 1.0764 and 1.0670.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0996 and 1.0926). Finally, the GBP/CHF has crossed above its upper Bollinger band (1.1112).
Supports and resistances:
1.1624 **
1.1529 *
1.1433 **
1.1338
1.1142 last
1.0984
1.0922 **
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