FxWirePro: GBP/CHF capped at major trendline resistance at 1.3265, good to go long on break above

• GBP/CHF is trading in an extremely narrow range on the day.
   
• The pair hit session highs at 1.3264 and lows at 1.3238 on the day till now.
   
• Upside remains capped at major trendline resistance at 1.3265. Break above could take the pair higher.
   
• Price action has broken above 200-DMA at 1.3231, but is struggling to extend gains above.
   
• Technical indicators are bullish on the daily chart. Momentum bullish, RSI above 50.
   
• Breakout at major trendline resistance at 1.3265 could see test of 38.2% Fib at 1.3241.
   
• Retrace below 200-DMA could invalidate the bullish bais.

Support levels - 1.3231 (200-DMA), 1.3210 (5-DMA), 1.3167 (21-EMA)

Resistance levels - 1.3265 (trendline), 1.33, 1.3329 (100-DMA)

Recommendation: Good to go long on breakout above trendline at 1.3265, SL: 1.3230, TP: 1.33/ 1.3340/ 1.34.

FxWirePro Currency Strength Index: FxWirePro's Hourly GBP Spot Index was at 75.6329 (Neutral), while Hourly CHF Spot Index was at -46.801 (Neutral) at 0815 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.