GBP/CHF intraday: below its lower Bollinger band
Our pivot point is at 1.0837.
Our preference: the downside prevails as long as 1.0837 is resistance.
Alternative scenario: the upside breakout of 1.0837, would call for 1.0858 and 1.0870.
Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0823 and 1.0851). Finally, the GBP/CHF has penetrated its lower Bollinger band (1.0805).
Supports and resistances:
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