Today at GBPCHF traders that were range-trading should earn a lot. Those ones who waited for a range breakout might dent their deposits. In the morning SNB took a decision on interest rates. Interest rates remained at the same level. GBPCHF failed to break above resistance and rebounded. After that it reached a daily low. Demand was supported by Bank of England and here interest rates were also unchanged what brought another upward impuls.
Enter the game PIP WARS – live trading contest
If break above 1.5000 level will succeed target for upward movement is at 1.5070. Only above this level it will prove whether this rebound is likely to be a new uptrend. But if new wave of fall activates, the nearest strong support is at 1.4890 level.