Chart - Courtesy Trading View
Technical Analysis:
- GBP/CHF was trading largely unchanged at 1.0998 at around 12:45 GMT, outlook bearish
- The pair has been on a major downtrend, has tested record lows, levels unseen since 1974
- Recovery attempts remains capped at 5-DMA, major moving averages are biased lower
- Price action is below daily cloud and Chikou span is biased lower
- MACD and ADX are biased lower, momentum is strongly bearish, volatility is high and rising
Support levels - 1.0948 (Lower BB), 1.09
Resistance levels - 1.1027 (5-DMA), 1.1113 (200H MA)
Summary: GBP/CHF fails to hold on to initial gains, bias remains bearish, scope for fresh lows.
