GBPCHF: RESISTANCE PROTECTION MAKES A MOVE.

For the first time since mid-November, GBPCHF ‘s sustained trading has opened the door to further progress in confronting another upside barrier, namely the 1.2830-35 horizontal line. If the pair manages to conquer the 1.2835 marks on a daily closing basis, the 1.2900 can please buyers, but a nine-month-old downward slanting tendriline, at 1.2955, followed by 1.2970, could challenge after the rally. Given the quota successfully increased last-1.2970, the 1.3000, the 1.3110 and the 1.3165 could flash on the Bulls ‘ radar.

If prices fail to maintain a recent recovery and register a daily closure below 1.2735, the 1.2680 and 1.2600- 1.2590 support zone may attract sellers ‘ attention. In addition, the extended downturn of pairs below 1.2590 could not hesitate to catch it to the 1.2500 and 1.2460- 45 rest areas.

TTS MARKETS

Share