GBP/CHF chart - Trading View
Technical Analysis: Bias Bullish
- GBP/CHF slips lower from session highs at 1.2958 after BoE stays pat
- The pair holds above 5-DMA, momentum studies are bullish
- Stiff resistance is seen at monthly cloud, break in will fuel further gains
- MACD shows bullish crossover on signal line on the monthly charts
- Minor pullbacks have held support at 21-EMA, major weakness only on break below
Support levels - 1.2887 (5-DMA), 1.2808 (20-DMA), 1.2769 (21-EMA)
Resistance levels - 1.2964 (Monthly cloud), 1.30 (psychological level), 1.3042 (Upper BB)
Summary: The Bank of England's (BoE) Monetary Policy Committee (MPC) left the benchmark interest rate unchanged at 0.10% at its March policy meeting and kept the Asset Purchase Facility steady at £895 billion. GBP edged modestly lower in the initial reaction. GBP/CHF trades with bullish bias. Watch out for break into monthly cloud for upside continuation.
