|   Technicals


  |   Technicals


FxWirePro: GBP/CHF consolidates gains above 200W MA, outlook bullish

GBP/CHF chart - Trading View 

Technical Analysis: Bias Bullish

- GBP/CHF resumes upside after 2 days of weakness

- The pair has bounced off with a Hammer formation on Friday's trade

- GMMA indicators shows major and minor trend are strongly bullish

- Price action is consolidating gains above 200W MA

- Momentum bullish and volatility is high and rising

Support levels - 1.2722 (5-DMA), 1.2634 (200H MA), 1.2602 (200W MA), 1.2486 (21-EMA)

Resistance levels - 1.2797 (55M EMA), 1.2801 (76.8% Fib), 1.2811 (Upper BB)

Summary: GBP/CHF trades 0.72% higher on the day at 1.2732 at around 13:00 GMT. The British pound remains buoyed after UK Final Manufacturing PMI beats estimates with 55.1 in February. Price action has paused 2 consecutive session's of downside. Technical indicators support upside. Scope for test of 1.28 ahead of 1.3060 (88.6% Fib).

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.