Chart - Courtesy Trading View
Technical Analysis:
- GBP/CHF was trading 0.16% lower on the day at 1.1439 at around 15:30 GMT
- The pair slipped lower from session highs at 1.1508 and is testing 5-DMA support
- Momentum is bearish, Stochs and RSI are biased lower, RSI is below 50
- MACD and ADX support downside. Chikou span is biased lower
- GMMA indicator shows major and minor trend are strongly bearish
Support levels:
S1: 1.1434 (5-DMA)
S2: 1.1381 (Lower BB)
Resistance levels:
R1: 1.1480 (200H MA)
R2: 1.1533 (21-EMA)
Summary: GBP/CHF trades with a bearish bias. Long upper wicks on the daily candles suggest selling pressure at highs. 5-DMA is immediate support, break below will see more downside.
