Credit Suisse FX Technical Strategy notes that GBP/CHF ongoing recovery needs a confirmation signal on a break above 1.2541 to target a move to 1.2787.
A break below 1.2787, according to CS, could see an extension to the 1.3070 May 2017 high.
On the downside, CS flags a break below the March and January lows at 1.2215/2112, as a trigger for a bearish signal targeting the October 2016 low at 1.1689.
A break above, 1.1689, according to CS, could see an extension to the 2015 low at 1.1244.
GBP/CHF is trading circa 1.2450 as of writing.
Source: Credit Suisse Global Fixed Income Research
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