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GBP/CHF chart - Trading View
GBP/CHF was trading 0.16% higher on the day at 1.1295 at around 07:45 GMT, extending previous session's gains.
The British pound found buyers after upbeat UK employment data and as coronavirus cases in UK show signs of reducing.
Data released on Tuesday showed UK ILO unemployment rate came in at 5% for the three months to November.
The December Claimant Count Change printed at 7K much better than the 35K anticipated, while average earnings also rose by more than anticipated.
Price action has confirmed breakout above Symmetric Triangle pattern and volatility is high and rising with strong bullish momentum.
GBP/CHF trades with a bullish bias and the pair is eyeing a break above 50% Fib. Scope for test of 61.8% Fib at 1.2471.
5-DMA is immediate support on the downside. Retrace below triangle top and breach at 200-DMA support will negate any bullish bias.
