GBP/CHF chart - Trading View
GBP/CHF was trading 0.16% higher on the day at 1.2840 at around 07:30 GMT.
The pair is extending gains for the 4th consecutive session and break above 200W MA.
The British pound buoyed across the board following UK budget announcement on Wednesday.
Markets are seeing a hawkish BoE rate expectation repricing as they perceive the budget to improve UK's economic outlook.
Money markets are now pricing in 10bps of interest rate hikes from the BoE by the end of 2022.
Further, expectations of earlier easing of UK’s lockdown restrictions keep sentiment buoyed.
GBP/CHF trades with a strong bullish bias. Momentum strongly bullish, RSI above 70. Volatility is high and rising.
The pair is on an upward spiral for the 7th consecutive week and is currently testing resistance at 55-month EMA at 1.28.
Decisive break above 55-month EMA is required for upside continuation. Technical indicators support gains. Scope for test of 1.36 levels.
