Chart - Courtesy Trading View
Spot Analysis:
GBP/CHF is extending weakness, the pair refreshes 18-month low below 1.17 mark
Previous Week's High/ Low: 1.1896/ 1.1718
Previous Session's High/ Low: 1.1803/ 1.1718
Technical Analysis:
- GBP/CHF is extending weakness for the 3rd straight week
- Price action is below major moving averages which are trending lower
- Momentum is bearish and volatility is high and rising
- MACD and ADX support downside in the pair
- GMMA indicator shows major and minor trend are strongly bearish
Major Support and Resistance Levels:
Support - 1.1614 (Lower BB), Resistance - 1.1745 (5-DMA)
Summary: GBP/CHF trades with a bearish technical bias. Scope for test of new multi-month lows.
