Now lets move on to the analysis for GBPCHF. As predicted last week, GC did manage to break the strong resistance at 1.70 and then using 1.7050 as strong support and as a springboard, it leapt to 1.73. Now looking at the daily chart, we can see that its further progress would be hampered by a lot of resistances at the upside. It has a resistance at 1.7330 and then resistance through a previous high at 1.7481 and then a major resistance at 1.7570.
With these resistances above, it would be ideal to day trade this pair rather than look for any swing trade on this pair. Just look for 30-40 pips every time u take a trade and once u get it, run with it.
The weekly chart also shows a strong resistance at 1.7570.
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