FXstreet.com (Barcelona) - Having reached 1.5000 psychological level in mid-May and being capped at 1.5100 area, the GBP/CHF then retraced back to 1.4823 swing low as the BoE concerns regarding the economy and risks from the Eurozone debt crisis weighed.

As the Euro fell down to extend its lows below 1.2626, the GBP/CHF recovered its previous position and has regained 1.5000 area. Also “to blame” is the rumor of a tax on deposits in Switzerland that scared off investors in the American opening.

On the upside, next resistance is current 2012 high at 1.5106. Support should be found at 1.4823 (May-22 swing low).