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GBP/CHF chart - Trading View
Spot Analysis:
GBP/CHF was trading 0.32% higher on the day at 1.2764 at around 08:15 GMT
Previous Session's High/Low: 1.2790/ 1.2717
Previous Week's High/Low: 1.2820/ 1.2587
Fundamental Overview:
Stronger UK CPI underpinned the British pound and supported the pair higher
Latest UK consumer inflation figures showed that the headline CPI rose 1.5% YoY in April as against 1.4% expected and 0.7% previous.
The pound ignores Brexit woes and remains bid as BOE policymakers reject any immediate risk to the current policy outlook.
Technical Analysis:
- GBP/CHF has bounced off 200W MA and is set to resume upside
- Price action is consolidating above 55-EMA support and weakness only on break below
- GMMA has showed a bullish shift on the intraday charts, the pair is holding above 200H MA
- Pullbacks in the pair has failed to break below cloud support
Major Support and Resistance Levels:
Support: 1.2713 (21-EMA), 1.2684 (55-EMA), 1.2581 (Lower BB)
Resistance: 1.2791 (Upper BB), 1.2797 (55-month EMA), 1.3126 (Upper M BB)
Summary: GBP/CHF is extending sideways ahead of the next move higher. Price action is within daily cloud and breakout above will propel the pair higher.
