Forex: GBP/CHF at 1-year highs, above 1.5000 (Barcelona) - The GBP/CHF has been advancing on the board since February 24 low of 1.4177. A continued upside conquered the 1.5000 psychological level in less than 3 months.

Yesterday, the pair reached 1.5106, a fresh 1-year high. 1.5184 (Apr-6 2011) is the next upside target. The GBP/CHF is testing the 1.5000 level as support in today’s corrective bias. May 14 low at 1.4928 should hold the pair in case of loss of 1.5000.

While the CHF trades “fixed” to the EUR, the pair is expected to draw an inversed EUR/CHF on the chart.