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FxWirePro: GBP/CHF trades directionless below daily cloud

GBP/CHF chart - Trading View 

Technical Analysis: Bias Neutral

- GBP/CHF was trading largely muted at 1.2651 at around 09:45 GMT

- The pair is trading direction below daily cloud, technicals do not provide a clear direction

- Price action has formed successive Dojis on the daily charts, suggests indecision

- RSI is also flat, Stochs are biased higher

- Price action remains capped between 55 and 110 EMAs, breakout will provide clear direction

Support levels - 1.2628 (110-EMA), 1.25 (July low), 1.2471 (61.8% Fib)

Resistance levels - 1.2681 (55-EMA), 1.27 (Daily cloud), 1.28 (76.8% Fib)

Summary: COVID-19 jitters weighed on the risk sentiment and benefitted the safe-haven franc. On the Brexit front, UK Prime Minister Boris Johnson rejected the EU's attempt to iron out problems regarding the post-Brexit arrangements for Northern Ireland.

GBP/CHF seems to have stalled the recent rebound shy of daily cloud. Decisive break above cloud required for upside continuation. 

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