GBP/CHF hits 6-month low on dovish comments by BOE governor

• GBP/CHF has reached 6 month low at 1.4147 and is currently trading around 1.4156.
  
  
• Pound Sterling declined against all major pairs on Tuesday after more dovish comments by BOE Governor Mark Carney.
  
  
• On the economic front UK inflation data released yesterday came better than expected and Pound sterling showed a slight jump but BOE Governor Comments on interest rate hike in University of London dragged the Pound sterling to 6 year low against USD.
  
  
• Mark Carney stated that BOE will start rising interest only when core CPI "notably nearer the 2% target". So this confirms that BOE will start increase interest rates only after 2017.
  
  
• Technically the pair has reached 1.4147 and major support is around 1.4079 (Cloud bottom).
  
  
• Any break below 1.4079 will drag the pair further down till 1.3800 level.
  
  
• On the higher side major resistance is around 1.4320 and break above targets 1.4397/1.4500 level.
  
  
• Momentum indicator StochRSI is in oversold zone and slight recovery till 1.4320 can be seen.

It is good to buy at dips around 1.4150 with SL around 1.4078 for the TP of 1.4260/1.4315.