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FxWirePro: GBP/CHF Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- GBP/CHF was trading 0.21% higher on the day at 1.1444 at around 13:10 GMT

- The pair is extending gains for the third consecutive session, breaks above 110-EMA

- Momentum is bullish, Stochs and RSI are sharply higher, RSI well above 50

- Price action is above the daily Ichimoku cloud and Chikou sapn is biased higher

- GMMA indicator shows major trend is neutral, while minor trend is turning bullish

Support levels:

S1: 1.1405 (110-EMA)

S2: 1.1314 (20-DMA)

Resistance levels:

R1: 1.1528 (Upper BB)

R2: 1.1716 (200-DMA)

Summary: GBP/CHF breaks above 110-EMA raising scope for further upside. Next major resistance lies at 200-DMA at 1.1716. 
 

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