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GBP/CHF chart on Trading View used for analysis
- GBP/CHF struggles at 1.31 handle, edges lower from session highs at 1.3099 to trade at 1.3077 at tht time of writing.
- The pair finds stiff resistance at 200-DMA, break above to see further gains.
- Technical indicators support upside. Stochs are sharply higher and RSI is above 50 mark, bias higher.
- We see +ve DMI dominance and MACD is on verge of a bullish crossover on signal line.
- Price action has edged above major EMAs and is extending gains above daily cloud.
- Break above 200-DMA targets 61.8% Fib at 1.3322. Weakness likely on dip below 20-DMA.
Support levels - 1.2956 (20-DMA), 1.2877 (100-DMA)
Resistance levels - 1.3162 (Upper BB), 1.3322 (61.8% Fib)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
