The GBPCHF holds above the support – Analysis – 19-6-2019

The GBPCHF pair ended its negative rebound recently by approaching the key support 1.2450, to form strong obstacle against resuming the negative attack, while the stability of the support allows us to expect the beginning of gathering the positive momentum to ease the mission of regaining the bullish bias to target 1.2720 followed by reaching the moving average 55 at 1.2900.

Also, stochastic stability above 20 level will increase the chances of providing the positive momentum again, to reinforce our bullish overview until reaching the mentioned targets.

The expected trading range for today is between 1.2480 and 1.2700

The expected trend for today: Bullish