Chart - Courtesy Trading View
Technical Analysis:
- GBP/CHF grinds lower to test fresh monthly lows
- Price action extends weakness into daily cloud
- Momentum is with the bears, volatility is high and rising
- GMMA indicator shows major trend is neutral, while minor trend is bearish
- MACD and ADX support downside in the pair
Support levels - 1.1074 (Lower BB), 1.1048 (Nov 14 low)
Resistance levels - 1.1180 (5-DMA), 1.1283 (21-EMA)
Summary: GBP/CHF trades with a bearish bias. Scope for dip till cloud base. Bearish invalidation only above 55-EMA.
