Chart - Courtesy Trading View
Technical Analysis:
- GBP/CHF was trading 0.08% higher on the day at 1.1282 at around 06:10 GMT
- The pair is grinding higher, extending gains above 55-EMA and into the daily cloud
- MACD confirms bearish crossover on signal line, ADX supports upside in the pair
- Stochs and RSI are sharply higher, RSI well above the 50 mark, momentum with the bulls
- GMMA indicator shows major trend is neutral, while minor trend has turned bullish
Major Support Levels:
S1: 1.1273 (110-EMA)
S2: 1.1220 (55-EMA)
Major Resistance Levels:
R1: 1.1330 (200-DMA)
R2: 1.1348 (Upper BB)
Summary: GBP/CHF trades with a bullish bias on the near-term. The pair is on track to test 200-DMA, decisive break above will fuel further gains.
