{"id":17936,"date":"2011-01-11T07:55:43","date_gmt":"2011-01-11T12:55:43","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=17936"},"modified":"2011-01-11T07:55:43","modified_gmt":"2011-01-11T12:55:43","slug":"gbpchf-testing-1-5039-resistance","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/11\/gbpchf-testing-1-5039-resistance\/","title":{"rendered":"GBP\/CHF \u2013 Testing 1.5039 Resistance"},"content":{"rendered":"

By Greg Holden<\/p>\n

The GBP\/CHF<\/a>, after experiencing a moderate upturn, appears to be leveling off as it meets its first significant resistance level at 1.5039.<\/p>\n

The pair has breached beyond this resistance price but, as can be seen on the chart below, the price has begun to turn somewhat flat; indicating a test of this resistance is underway.<\/p>\n

Fundamentals look favorable for the British pound<\/a>, which suggests the pair will indeed breach this level.<\/p>\n

However, the Swiss franc\u2019s growing strength over the past several months has many speculators concerned that it will continue to move bullish absent a significant appeal from the Swiss National Bank (SNB) to address its currency\u2019s unnatural growth.<\/p>\n

Looking at the chart below also shows an immense amount of technical pressure mounting against the pair\u2019s recent bullishness.<\/p>\n

The Stochastic (slow) shows a high-peaking bearish cross, and the Williams Percent Range has almost touched the 0 mark, suggesting an imminent reversal to the latest movement.<\/p>\n

GBP\/CHF \u2013 Daily Chart<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em>
\n<\/a><\/strong><\/em><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

The GBP\/CHF, after experiencing a moderate upturn, appears to be leveling off as it meets its first significant resistance level at 1.5039. The pair has breached beyond this resistance price but, as can be seen on the chart below…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-17936","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=17936"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17936\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=17936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=17936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=17936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}