GBP/CHF chart - Trading View
GBP/CHF was extending gains for the 5th straight session, hits new 12-month highs at 1.2397.
The pair grinds higher as the British pound remains buoyed amid easing coronavirus lockdown restriction in the UK and progress in COVID-19 vaccination drive.
The pair has shown a decisive breakout at 55W EMA, momentum studies are bullish and volatility is rising.
GMMA indicator on the weekly charts shows near-term moving averages have broken above long-term moving averages.
UK CPI figures for January due 07:00 GMT Wednesday will now be awaited for further impetus. Expectations are for CPI to arrive at 0.5% Y/Y down from 0.6% in December.
Price action is extending Symmetric Triangle breakout and is on track to test 61.8% Fib at 1.2471 ahead of 200W MA at 1.2603.
On the flipside, 5-DMA is immediate support at 1.2333, breach below will see dip till 21-EMA at 1.2247. Retrace below 110W EMA will negate any bullish bias.
