GBP/CHF may rise 35 - 52 pips.

GBP/CHF may rise 35 - 52 pips.

Our pivot point is at 1.0408.

Our preference : Our next up target stands at 1.0505 Alternative scenario Below 1.0408, expect 1.0380 and 1.0364.

Comment : The RSI is above its neutrality area at 50.

The MACD is above its signal line and negative.

The MACD must break above its zero level to trigger further gains.

Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0421 and 1.0434).

Finally, the GBP/CHF is trading above its upper Bollinger band (standing at 1.0446).