GBP/CHF chart - Trading View
GBP/CHF was trading 0.10% lower on the day at 1.2675 at around 10:20 GMT.
The pair has breached below 55-EMA support, further weakness on cards.
Momentum indicators have turned bearish. Stochs and RSI are biased lower, RSI has slipped below 50 mark.
UK reopening optimism continue to underpin the pound, despite rising cases of the Indian covid variant.
Downside likely to be limited. The pair finds strong support at cloud base at 1.2654. Eyes on Bailey's speech.
Analysis of GMMA indicator shows major and minor trend are neutral. Break below cloud will open downside.
Next major support below cloud lies at 200-week MA at 1.2618 ahead of 38.2% Fib at 1.2542. Failure to close below 55-EMA negates any bearish bias.
