GBP/CHF chart - Trading View
GBP/CHF is extending weakness for the 6th straight session, was trading 0.05% lower on the day at 1.2284 at around 06:30 GMT.
The British pound remains under pressure as traders await key UK data dump, scheduled for publishing at 07:00 AM GMT.
Key among them is UK Q4 prelim GDP which will be keenly watched as it is set to test BOE's bullish stance.
The preliminary reading of the fourth-quarter (Q4) UK GDP is expected at 0.5% QoQ versus 16% prior reading.
Markets are pricing in a weaker reading and any bullish surprise could buoy pound across the board.
Major technical bias for the pair is bullish. Price action is struggling to extend break above 110W EMA. Weak data could see more weakness.
Next major support lies at 1.2226 (nearly converged 20-DMA and 21-EMA). While 5-DMA is immediate resistance at 1.2311.
