GBP/CHF chart - Trading View
GBP/CHF was trading 0.63% higher on the day at 1.2271 at around 11:45 GMT, slightly lower from session highs at 1.2293.
The pair spiked past 50% Fib retracement at 1.2212 to hit levels unseen since March 2020, bias remains bullish.
The British pound was buoyed after upbeat UK Final Manufacturing PMI, supporting the pair higher.
Data released by IHS Markit on Monday confirmed UK Final Manufacturing PMI at 54.1 in January, beating estimates at 52.9 and compared to 52.9 in the first readout.
A breakout above Symmetric Triangle pattern on the daily charts keeps scope for upside in the pair. Technical indicators are also bullishly aligned.
Major resistance is seen at 110W EMA at 1.2285. Decisive break above will propel the pair higher. Next major bull target lies at 61.8% Fib at 1.2471.
