GBP/CHF chart on Trading View used for analysis
- GBP/CHF rejected at session highs at 1.2550, trades muted at 1.2516 at 1100 GMT.
- The pair trades below daily cloud and major moving averages, bias still bearish.
- Price action capped between 21-EMA and 5-DMA, breakout could provide clear directional bias.
- Break below 5-DMA will see dip till 1.2460 (Sept 4 low) ahead of 1.2379 (Dec 10 low).
- On the flipside, breakout above 21-EMA negates bearsih bais. Test of 55-EMA at 1.2669 then likely.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
