GBP/CHF Gaining

GBP/CHF is in its fourth consecutive day of gains. The pair dipped below the support line and closed three days under it until yesterday when the Sterling began to appreciate against the Swiss Franc. The Sterling is up against all competitors so far this week.

Major support zone for the GBP/CHF is the level of 1.2022, while short-term support is seen at 1.2735. Currently, the price is 1.2890 and it looks like it will keep going North. First resistance is seen at 1.29. If this resistance is broken then we might be in for a good bull run in the long-term.

We have an important speech scheduled for today that might create volatility.

Chart: GBP/CHF D1