GBP/CHF: Trade ideas for Sep. 22
The GBPCHF has encountered resistance at 1.5454 level, so now, this pair is moving in range above the support level of 1.5316 (38.2 Fibo retracement level).It is likely that the GBPCHF perform a retracement to the support level of 1.5231, where is located the 200 EMA.
However, if this pair manages to make a breakout at the resistance level of 1.5498, it's expected to rise to the level of 1.5637 (100.0 Fibo level extension). The RSI indicator stays in neutral territory.
Trading recommendations: Place buy orders if the GBPCHF does a breakout at the resistance level of 1.5498, with take profit at 1.5637.