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GBPCHF: Biased To The Upside, Set To Resume Short Term Uptrend (Special Focus).

GBPCHF: Outlook for the cross continues to point higher suggesting a resumption of its short uptrend triggered from the 1.1465 level is imminent.This will bring in the 1.4138 level, its Sept 21’2011 high as the barrier to breach to resume that uptrend and then strengthen further towards the 1.4296 level, its May 22’2011 high with a violation of there setting the stage for a push higher towards its May 20’201 high at 1.4363. Further out, the 1.4548 level, its May 08’2011 high comes in as the next upside target. Both its daily and weekly RSI are bullish and pointing higher suggesting further strength. On the downside, support stands at the 1.3710 level, its Sept 20’2011 low followed by the 1.3533 level, its Aug 29’2011 low. A reversal of roles as support is expected to occur here and turn the cross higher in the direction of its short term uptrend. However, below the 1.3533 level if seen will call for more weakness towards the 1.3128 level