Chart - Courtesy Trading View
Technical Analysis:
- GBP/CHF was trading 0.21% higher on the day at 1.1444 at around 13:10 GMT
- The pair is extending gains for the third consecutive session, breaks above 110-EMA
- Momentum is bullish, Stochs and RSI are sharply higher, RSI well above 50
- Price action is above the daily Ichimoku cloud and Chikou sapn is biased higher
- GMMA indicator shows major trend is neutral, while minor trend is turning bullish
Support levels:
S1: 1.1405 (110-EMA)
S2: 1.1314 (20-DMA)
Resistance levels:
R1: 1.1528 (Upper BB)
R2: 1.1716 (200-DMA)
Summary: GBP/CHF breaks above 110-EMA raising scope for further upside. Next major resistance lies at 200-DMA at 1.1716.
