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GBP/CHF intraday: below its lower Bollinger band

2023-10-23
290

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:

1.0870 **

1.0858 *

1.0837 **

1.0830

1.0799 last

1.0772

1.0760 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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