FxWirePro: GBP/CHF rejected at strong trendline resistance at 1.3265, break below 21-EMA (1.3162) to see further weakness

• GBP/CHF rejected at strong trendline resistance at 1.3265, retraces below 50-DMA.
   
• The pair is extending downside for a 2nd straight session, trades 0.14% lower on the day.
   
• Technical indicators on daily charts are turning bearish. 
   
• Stochs are on verge of rollover from overbought levels and RSI is below 50, biased lower.
   
• The pair is currently holding support at 21-EMA at 1.3162. Break below will see further weakness.
   
• On the flipside, any further bullishness only above 1.3265 (major trendline resistance).

Support levels - 1.3161 (21-EMA), 1.31, 1.3045 (trendline support)

Resistance levels - 1.3197 (5-DMA), 1.3223 (50-DMA), 1.3265 (trendline), 1.33

Recommendation: Watch out for break below 21-EMA to go short, target 1.3050/ 1.3025/ 1.30

FxWirePro Currency Strength Index: FxWirePro's Hourly GBP Spot Index was at -8.11121 (Neutral), while Hourly CHF Spot Index was at 58.0283 (Neutral) at 1015 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.