The GBP/CHF pair has been trending downwards, since the 19th of November 2015, with the bears leading the price from as high as 1.5570 to as low as 1.5376.
On Monday, late on the trading day, the currency pair advanced from as low as 1.5383 up to 1.5437 to finish lower during the early European trade today, at 1.5386.
In the event that the bulls gain ground and manage to break above 1.5476, the pair could escalate up to 1.5497 and 1.5570 in extension.
Conversely, in the scenario where the bears manage to force the price to break below 1.5368, the pair could decelerate down to 1.5305.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.