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14 Apr 2015
GBP/CHF rises toward 1.4400
FXStreet (Córdoba) - The GBP/CHF pair gained momentum on Tuesday and rose toward 1.4400. Earlier and yesterday it traded momentarily below 1.4300 but managed to climb back above.
The short term outlook remains unclear. Today for the second time since the beginning of the week the pound tested a key short term support around 1.4270 but held above and rebounded. While the upside remained limited by 1.4400.
The pair is recovering after bottoming on April 3 at 1.4131 then bounced to the upside and peaked last week at 1.4430. GBP/CHF continues to consolidate around 1.4350. A break above 1.4400 could favor the bullish bias while a decline under 1.4270 with a confirmation, would open the doors for a decline to 1.4220.
The short term outlook remains unclear. Today for the second time since the beginning of the week the pound tested a key short term support around 1.4270 but held above and rebounded. While the upside remained limited by 1.4400.
The pair is recovering after bottoming on April 3 at 1.4131 then bounced to the upside and peaked last week at 1.4430. GBP/CHF continues to consolidate around 1.4350. A break above 1.4400 could favor the bullish bias while a decline under 1.4270 with a confirmation, would open the doors for a decline to 1.4220.