FxWirePro: GBP/CHF Daily Outlook

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.