Chart - Courtesy Trading View
Technical Analysis:
- GBP/CHF was trading 0.71% higher on the day at 1.1679 at around 13:40 GMT
- The pair has shown a break above 5-DMA, raising scope for further upside
- Price action has paused downside after 'Hammer' formation on the previous session's candle
- The pair is trading shy of 200H MA resistance, break above will fuel further gains
- Chikou span is biased higher, Stochs and RSI are on verge of bullish rollover from oversold levels
Support levels - 1.1620 (5-DMA), 1.1436 (Lower BB)
Resistance levels - 1.1691 (200H MA), 1.1827 (21-EMA)
Summary: GBP/CHF pivotal at 200H MA. Watch out for decisive break above for further upside. Next major resistance lies at 21-EMA at 1.1827.
