FxWirePro: GBP/CHF breaks major resistance at 1.31, hits 15-week highs at 1.3149, bias higher

GBP/CHF chart on Trading View used for analysis

• GBP/CHF has bounced off 20-DMA support, intraday bias higher.
   
• The pair has broken stiff resistance at 1.31 and hit 15-week highs at 1.3149.
   
• Price currently hovers around 1.3135, up 0.24% at the time of writing.
   
• Technical studies support upside in the pair. Price action above cloud and major moving averages.
   
• Momentum studies are bullish. RSI is above 50 and bias is higher. Break above 1.31 has raised scope for further upside.
   
• Next major resistance lies at 200-W SMA at 1.3323. Weakness likely below 20-DMA at 1.30.

Support levels - 1.3082 (5-DMA), 1.30 (20-DMA), 1.2881 (55-EMA)

Resistance levels - 1.3172 (Nov 8 high), 1.3270 (June 15 high), 1.3323 (200-W SMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.