GBP/CHF chart - Trading View
GBP/CHF was trading 1.11% lower on the day at 1.1839 at around 13:10 GMT, outlook is turning bearish.
The British pound collapsed across the board on reports tha UK Prime Minister Boris Johnson is "ready to pull out of Brexit talks".
Commenting on the prospects of a EU-UK trade deal, EU Commissioner for Financial Services, Mairead McGuinness, said "It's not looking good. The UK's failing to understand the need for compromise."
GBP/CHF has slumped below crucial 200-DMA support and Bollinger bands have started to widen in support of rising volatility.
Bearish oscillators, bearish MACD line crossover on signal line and a negative DMI dominance add to the downside bias.
Price action is currently holding support at daily cloud and rising trendline support at 1.1830. Breach below will drag the pair lower.
Little support seen till lower weekly Bollinger bands at 1.1662 and then Sept lows at 1.1598. Retrace above 200-DMA will negate bearish bias for the pair.
