GBP/CHF chart - Trading View
Technical Analysis: Bias Bullish
- Confirms breakout above 'Symmetric Triangle' pattern
- Stochs and RSI are sharply higher, RSI well above 50 mark
- MACD and ADX support gains, +ve DMI dominance adds upside bias
- Volatility is high and rising, GMMA indicator shows major and minor trend are strongly bullish
Support levels - 1.2125 (5-DMA), 1.2106 (200H MA), 1.2066 (55W EMA)
Resistance levels - 1.2212 (50% Fib), 1.2256 (21 month EMA), 1.2288 (110W EMA)
Summary: The pound sterling finds aggressive fresh bids amid optimism over COVID-19 vaccine rollouts and decrease in COVID-19 cases in the UK. GBP/CHF has hit 10-week highs at 1.2197. Technical analysis suggests upside continuation. Break above 50% Fib and test of 21-month EMA at 1.2256 on charts. Further upside to see gains till 200W MA at 1.26.
