GBP/CHF chart - Trading View
Technical Analysis: Bias Bullish
- GBP/CHF resumes upside after 2 days of weakness
- The pair has bounced off with a Hammer formation on Friday's trade
- GMMA indicators shows major and minor trend are strongly bullish
- Price action is consolidating gains above 200W MA
- Momentum bullish and volatility is high and rising
Support levels - 1.2722 (5-DMA), 1.2634 (200H MA), 1.2602 (200W MA), 1.2486 (21-EMA)
Resistance levels - 1.2797 (55M EMA), 1.2801 (76.8% Fib), 1.2811 (Upper BB)
Summary: GBP/CHF trades 0.72% higher on the day at 1.2732 at around 13:00 GMT. The British pound remains buoyed after UK Final Manufacturing PMI beats estimates with 55.1 in February. Price action has paused 2 consecutive session's of downside. Technical indicators support upside. Scope for test of 1.28 ahead of 1.3060 (88.6% Fib).
