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FxWirePro: GBP/CHF Technical Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- GBP/CHF was trading 0.32% lower on the day at 1.2212 at around 11:15 GMT

- The pair is extending weakness for the 3rd consecutive session

- MACD is on verge of bearish crossover on signal line

- GMMA indicator shows major and minor trend are bearish

- Price action is below 200H MA and major moving averages are trending lower

Support levels - 1.22, 1.2110 (Double Bottom), 1.2082 (Lower W BB)

Resistance levels - 1.2274 (5-DMA), 1.2282 (21-EMA), 1.2303 (200H MA)

Summary: GBP/CHF trades with a bearish bias. Scope for test of Double Bottom at 1.2110. 
 

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