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FxWirePro: GBP/CHF Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- GBP/CHF was trading 0.08% higher on the day at 1.1282 at around 06:10 GMT

- The pair is grinding higher, extending gains above 55-EMA and into the daily cloud

- MACD confirms bearish crossover on signal line, ADX supports upside in the pair

- Stochs and RSI are sharply higher, RSI well above the 50 mark, momentum with the bulls

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

Major Support Levels: 

S1: 1.1273 (110-EMA)

S2: 1.1220 (55-EMA)

Major Resistance Levels: 

R1: 1.1330 (200-DMA)

R2: 1.1348 (Upper BB)

Summary: GBP/CHF trades with a bullish bias on the near-term. The pair is on track to test 200-DMA, decisive break above will fuel further gains. 
 

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