FxWirePro: GBP/CHF Trade Idea

FxWirePro Currency Strength Index for GBP/CHF: Bias Bearish
FxWirePro's Hourly USD Spot Index was at -160.644 (Bearish)
FxWirePro's Hourly USD Spot Index was at 130.396 (Bullish)

Technical Analysis: Bias Bearish
- Price breaks below 200-DMA at 1.3156
- Recovery attempts rejected at 5-DMA at 1.3185
- Momentum indicators show highly bearish bias
- RSI well below 30 levels shows bearish bias
- MACD below zero, biased lower and we see -ve DMI dominance

Support levels - 1.3038 (50% Fib), 1.2955 (Nov 15 low), 1.2845 (61.8% Fib)
Resistance levels - 1.3160 (200-DMA), 1.3185 (5-DMA), 1.3231 (38.2% Fib)

Recommendation: Good to go short, SL: 1.3185, TP: 1.3040/ 1.30/ 1.2955/ 1.29/ 1.2845

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