GBP/CHF chart - Trading View
GBP/CHF was trading 0.47% higher on the day at 1.2607 at around 11:00 GMT, outlook bullish.
The pair is extending gains for the 7th straight session, has tested 200W MA at 1.2602. Decisive break above will propel the pair higher.
Momentum studies are bullish. Stochs and RSI are sharply higher, RSI is above 60 which supports the current uptrend.
Price action is extending upside in a potential 'Cup and Handle' pattern. Scope for test of 1.3311 (Dec 2019 high).
On the weekly charts, GMMA indicator shows minor trend is bullish and major trend is shifting bullish with constriction on the long-term moving averages.
The pair is now on track to test 1.28 mark (nearly converged 55 month MA and 76.8% Fib). Failure at 200W MA will see some consolidation.
