GBPCHF is under the influence of some economic news reports. The Swiss Franc gained momentum by the Switzerland’s consumer price index growth and in the UK the UK’s Halifax house price index fell. The pair is testing the 1.4000 area at the moment. The support lies at 1.39780 with resistance at 1.40100 which both lines are above the monthly pivot point at 1.38780. while locating above EMA of 50, The EMA of 10 is moving close it. The MACD indicator is in positive territory showing the price consolidation and the RSI is staying neutral for now. There is a slight chance that the pair climbs the Andrews’ Pitchfork. Traders can wait for a better chart setting to make their decisions.
Technical analysis of GBPCHF dated 10.05.2016
Comments are closed.