Last Friday’s decreases led GBPCHF to 1.2850 area which was last seen on the pair when Swiss central bank released CHF price in January 2015.
We can assume this level is a support because it is in pair with resistance created by broken bearish trend line set from December 1st high.
Try out XM account and get free $30 bonus without any deposit
If support will be defended, we expect rebound which can led price to resistance area 1.3300-1.3415. 1.3300 was also a resistance during correction after last year’s SNB intervention. 1.3415 is a level of April’s low after which there was bullish move with range more than 1200 pips.
