After
SNB decided to drop the 1.2000 EUR/CHF floor the price action on CHF crosses has been distorted however we can still find a way to guide us through the current mess by simple using
support and resistance level and the box trading ranges (see
Figure 1). GBP/CHF as being a cross pair has a lot of tendency to consolidate and we can find more often it's moving inside this range boxes.
Figure 1. GBP/CHF Weekly chart.
Based on the Monthly chart we can spot a big
double bottom that is ta…