Chart - Courtesy Trading View
Technical Analysis:
- GBP/CHF was trading 0.23% higher on the day at 1.1126 at around 09:10 GMT
- The pair action has bounced off channel base support, weakness only on break below
- Price action is below cloud and major moving averages which are trending neutral
- Back-to-back Hammer and Doji formations at channel base support limits further downside
- MACD and ADX still support weakness in the pair
Support levels:
S1: 1.1070 (Channel base)
S2: 1.1028 (Lower BB)
Resistance levels:
R1: 1.1166 (21-EMA)
R2: 1.1210 (55-EMA)
Summary: GBP/CHF pauses downside at channel base support, weakness only on break below. Technical indicators are biased lower. Rebound if any is likely to be shallow.
