7 Jan 2015
GBP/CHF hits fresh daily highs
FXStreet (Mumbai) - The British pound advanced against the Swiss franc today, reversing losses seen in the previous session as the Swiss franc slips largely on Euro weakness.
Currently, the GBP/CHF trade at fresh daily high of 1.5366 levels, up 0.40%, having previously posted day’s low at 1.5291 levels. The GBP/CHF cross gained today as the declining euro kept the franc under pressure. The EUR/USD pair slumped to 2006 lows at 1.1831, down -0.50% on the day, which automatically led to a weaker Swiss franc versus the US dollar. Thus, lifting the cross in GBP/CHF higher.
GBP/CHF Technical Levels
To the upside, the next resistance is located at 1.5398 (Dec 30 High) and above which it could extend gains to 1.5503 (Dec 31 High) levels. To the downside, immediate support might be located at 1.5309 (Jan 5 Low) levels and below that at 1.5278 (Dec 26 Low) levels.
Currently, the GBP/CHF trade at fresh daily high of 1.5366 levels, up 0.40%, having previously posted day’s low at 1.5291 levels. The GBP/CHF cross gained today as the declining euro kept the franc under pressure. The EUR/USD pair slumped to 2006 lows at 1.1831, down -0.50% on the day, which automatically led to a weaker Swiss franc versus the US dollar. Thus, lifting the cross in GBP/CHF higher.
GBP/CHF Technical Levels
To the upside, the next resistance is located at 1.5398 (Dec 30 High) and above which it could extend gains to 1.5503 (Dec 31 High) levels. To the downside, immediate support might be located at 1.5309 (Jan 5 Low) levels and below that at 1.5278 (Dec 26 Low) levels.