Source: PaxForex Premium Analytics Portal, Technical Insight

While CHF head Jordan at a press conference in December again called the CHF overvalued and said he was ready to intervene, he also noted that a rise in the national currency could limit import prices.

GBP/CHF,D1

Pivot: 1.2426

Analysis:

While the price is above 1.2104, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.2426
• Take Profit 1: 1.2519
• Take Profit 2: 1.2654

Alternative scenario:

If the level 1.2104 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2104
• Take profit 1: 1.1837
• Take profit 2: 1.1678

Comment:

RSI shows a bullish sentiment.

Key levels: