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Add as a preferred source on Google FxWirePro: GBP/CHF capped below 21-EMA, good to stay short on break below 5-DMA GBP/CHF chart on Trading View used for analysis GBP/CHF rejected at session highs at 1.2550, trades muted at 1.2516 at 1100 GMT. The pair trades below daily cloud and major moving averages, bias still bearish. Price acti…
By FxWirePro Team Jan 8, 2019, 11:16 AM UTC
Image from the original EconoTimes article Read the original article
GBP/CHF chart on Trading View used for analysis
GBP/CHF rejected at session highs at 1.2550, trades muted at 1.2516 at 1100 GMT.
The pair trades below daily cloud and major moving averages, bias still bearish.
Price action capped between 21-EMA and 5-DMA, breakout could provide clear directional bias.
Break below 5-DMA will see dip till 1.2460 (Sept 4 low) ahead of 1.2379 (Dec 10 low).
On the flipside, breakout above 21-EMA negates bearsih bais. Test of 55-EMA at 1.2669 then likely.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex .
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