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GBP/CHF chart - Trading View
GBP/CHF was trading 0.21% higher on the day at 1.1779 at around 08:30 GMT.
The pair was consolidating previous session's losses and outlook remains bearish.
Break below major trendline support and daily cloud has strengthened downside for the pair.
Major and minor trend in the pair are strongly bearish and rising volatility is likely to drag prices lower.
Negative DMI crossover on positive DMI seen. ADX and MACD support downside in the pair.
Immediate support lies at 1.1675 (Aug 2019 low). Further weakness will see test of 50% Fib at 0.1659 ahead of 61.8% Fib at 1.1530.
On the flipside, 5-DMA is immediate resistance at 1.1837. Break above 55-EMA (1.2048) negates bearish bias.
