GBP/CHF chart on Trading View used for analysis
- GBP/CHF has bounced off 20-DMA support, intraday bias higher.
- The pair has broken stiff resistance at 1.31 and hit 15-week highs at 1.3149.
- Price currently hovers around 1.3135, up 0.24% at the time of writing.
- Technical studies support upside in the pair. Price action above cloud and major moving averages.
- Momentum studies are bullish. RSI is above 50 and bias is higher. Break above 1.31 has raised scope for further upside.
- Next major resistance lies at 200-W SMA at 1.3323. Weakness likely below 20-DMA at 1.30.
Support levels - 1.3082 (5-DMA), 1.30 (20-DMA), 1.2881 (55-EMA)
Resistance levels - 1.3172 (Nov 8 high), 1.3270 (June 15 high), 1.3323 (200-W SMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
