18 Dec 2014
GBP/CHF trades between 50-DMA and 100-DMA
FXStreet (Mumbai) - The GBP/CHF pair is stuck between the 50-DMA and 100-DMA levels located at 1.5225 and 1.5253 respectively, after Swiss National Bank (SNB) surprised the markets with negative interest rates.
The GBP/CHF pair currently trades 0.50% higher at 1.5230 levels, compared to the previous session’s close of 1.5155. The pair gained after Swiss National Bank unexpectedly dropped interest rates into negative territory at -0.25%. The central bank warned it is ready to take further measures if needed and reaffirmed its commitment to the EURCHF floor at 1.20.
GBP/CHF Technical Levels
The pair has an immediate support at 1.5225 (50-DMA), under which losses could be extended to 1.5190 (10-DMA). Meanwhile, resistance is seen at 1.5253 (100-DMA) and 1.5319 levels.
The GBP/CHF pair currently trades 0.50% higher at 1.5230 levels, compared to the previous session’s close of 1.5155. The pair gained after Swiss National Bank unexpectedly dropped interest rates into negative territory at -0.25%. The central bank warned it is ready to take further measures if needed and reaffirmed its commitment to the EURCHF floor at 1.20.
GBP/CHF Technical Levels
The pair has an immediate support at 1.5225 (50-DMA), under which losses could be extended to 1.5190 (10-DMA). Meanwhile, resistance is seen at 1.5253 (100-DMA) and 1.5319 levels.