Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- GBP/CHF was trading 0.32% lower on the day at 1.2212 at around 11:15 GMT
- The pair is extending weakness for the 3rd consecutive session
- MACD is on verge of bearish crossover on signal line
- GMMA indicator shows major and minor trend are bearish
- Price action is below 200H MA and major moving averages are trending lower
Support levels - 1.22, 1.2110 (Double Bottom), 1.2082 (Lower W BB)
Resistance levels - 1.2274 (5-DMA), 1.2282 (21-EMA), 1.2303 (200H MA)
Summary: GBP/CHF trades with a bearish bias. Scope for test of Double Bottom at 1.2110.
