Chart - Courtesy Trading View
Technical Analysis:
- GBP/CHF was trading 0.48% higher on the day at 1.1614 at around 09:35 GMT
- The pair has a six day downside streak, but upside looks limited
- GMMA indicator shows major and minor trend are bearish
- Price action is below major moving averages which are trending lower
- MACD and ADX support downside in the pair, Chikou span is biased higher
Support levels:
S1: 1.15 (Lower BB)
S2: 1.1113 (March 2020 low)
Resistance levels:
R1: 1.1663 (5-DMA)
R2: 1.1753 (200H MA)
Summary: GBP/CHF trades with a bearish bias. Recovery attempts lack traction. Scope for test of new multi-year lows.
