GBP/CHF intraday: above its upper Bollinger band

GBPCHF

Trading Central 2021-01-13 17:36:04

Our pivot point is at 1.2110.

Our preference: the upside prevails as long as 1.2110 is support.

Alternative scenario: the downside breakout of 1.2110 would call for 1.2059 and 1.2029.

Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2124 and 1.2113). Finally, the GBP/CHF has crossed above its upper Bollinger band (1.2147).

Supports and resistances:

1.2303 **

1.2274 *

1.2244 **

1.2214

1.2153 last

1.2129

1.2110 **

Disclaimer

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