GBP/CHF chart - Trading View
Technical Analysis: Bias Bearish
- GBP/CHF was trading 0.26% higher on the day at 1.2443 at around 11:10 GMT
- The pair has paused downside at major trendline support at 1.24, breach below to see further downside
- MACD is biased bearish. ADX is rising in support of the downtrend
- GMMA indicator shows major and minor trend are strongly bearish
- Volatility is high and momentum is strongly bearish, scope for further downside
Support levels - 1.24 (trendline), 1.2378 (50% Fib), 1.2318 (20-month MA)
Resistance levels - 1.2506 (5-DMA), 1.2542 (38.2% Fib), 1.2598 (200H MA)
Summary: GBP/CHF recovery lacks traction. Outlook is bearish. Break below 1.24 handle will drive more weakness.
