Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- GBP/CHF was trading 0.21% higher on the day at 1.2205 at around 11:55 GMT
- The pair is extending bullish streak for the 5th straight session
- Price action has bounced off Double Bottom at 1.2110, scope for further upside
- 21-EMA is capping upside in the pair, break above will fuel further gains
- MACD is on verge of bullish crossover on signal line
- Price action has broken above 200H MA and GMMA shows bullish shift on the intraday charts
Support levels - 1.2172 (200H MA), 1.2156 (5-DMA)
Resistance levels - 1.2212 (21-EMA), 1.2288 (55-EMA)
Summary: GBP/CHF was trading with a bullish bias. Price action has paused at 21-EMA, decisive break above will propel the pair higher.
