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FxWirePro: GBP/CHF Daily Outlook

GBP/CHF chart - Trading View 

Technical Analysis: Bias Bearish

- GBP/CHF was trading 0.20% lower on the day at 1.2621 at around 12:30 GMT

- Price action was consolidating below daily cloud and 200-DMA

- Volatility is low, MACD is flat, ADX is flat with no clear direction

- Oscillators are biased lower, Stochs and RSI show bearish momentum

- Price action grinds lower in sloping channel pattern

Support levels - 1.26, 1.2542 (38.2% Fib), 1.25

Resistance levels - 1.2637 (55-EMA), 1.2654 (200-DMA), 1.2677 (200H MA)

Summary: GBP/CHF is extending consolidation below daily cloud and 200-DMA. Oscillators are biased lower. Scope for more downside. Bears target 38.2% Fib at 1.2542.

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