Back
23 Jun 2015
GBP/CHF rises above 1.4750
FXStreet (Mumbai) - The GBP/CHF pair rose above 1.4750 levels as the Swiss Franc suffered a double whammy of optimism over Greek deal and hawkish comments from the Fed’s Powell.
Trades above weekly 200-MA
The pair took out the resistance of the 200-DMA and 200-WMA located at 1.4625 and 1.4699 respectively. The pair turned higher from the low of 1.4551 earlier today on the back of a sell-off in the Swiss Franc and other safe haven assets like the Yen, Treasuries, and Bunds.
The gains were extended further after Fed’s Powell Powell said the rates could be lifted as early as September, while stating that that a percentage point rate hike this year is possible in case the economy grows as anticipated.
GBP/CHF Technical Levels
The spot currently trades at 1.4766. The immediate resistance is located at 1.4787 (100-WMA), above which gains could be extended to 1.4820 (50-WMA). On the flip side, support is seen at 1.4699 (200-WMA) and 1.4600.
Trades above weekly 200-MA
The pair took out the resistance of the 200-DMA and 200-WMA located at 1.4625 and 1.4699 respectively. The pair turned higher from the low of 1.4551 earlier today on the back of a sell-off in the Swiss Franc and other safe haven assets like the Yen, Treasuries, and Bunds.
The gains were extended further after Fed’s Powell Powell said the rates could be lifted as early as September, while stating that that a percentage point rate hike this year is possible in case the economy grows as anticipated.
GBP/CHF Technical Levels
The spot currently trades at 1.4766. The immediate resistance is located at 1.4787 (100-WMA), above which gains could be extended to 1.4820 (50-WMA). On the flip side, support is seen at 1.4699 (200-WMA) and 1.4600.