Chart - Courtesy Trading View
GBP/CHF was trading 0.46% higher on the day at 1.2396 at around 12:30 GMT.
The pair has slipped lower from session highs at 1.2443, finds major resistance at 200-DMA.
The British pound gained traction with the initial reaction to upbeat UK employment data, pushing the pair higher.
Data published by the Office for National Statistics showed on Tuesday that UK's ILO Unemployment Rate declined to 3.7% from 3.8% in the prior month, beating estimates for an unchanged reading.
The Claimant Count Change in April was -56.9K, compared to forecasts of -38.8K. While, the Average Earnings Including Bonus and Excluding Bonus rose by 7% and 4.2%, respectively, on a yearly basis.
GBP/CHF surged past 200-DMA, but failed to hold gains, slipped lower to trade below the major resistance.
The pair has faltered at 200-DMA on several occasions and decisive break above is required for further gains.
Price action has shown a breakout of daily cloud and technical indicators are also supportive of gains. Watch out for decisive break above 200-DMA for upside continuation.
