GBP/CHF chart - Trading View
Technical Analysis: Bias Bullish
- GBP/CHF was trading 0.37% higher on the day at 1.2770 at around 10:00 GMT
- The pair hit 5-week high as bulls extend winning streak for the 6th straight session
- Price action is on verge on break above daily cloud
- MACD confirms bullish crossover on signal line, supporting upside
- Stochs and RSI show momentum is strongly bullish, RSI is above 60 mark
- Volatility is high and rising as evidenced by widening Bollinger bands
Support levels - 1.2745 (23.6% Fib), 1.2719 (cloud base), 1.2681 (50-DMA)
Resistance levels - 1.2801 (76.8% Fib), 1.2856 (June high), 1.29
Summary: GBP/CHF breakout above daily cloud will confirm bullish continuation for the pair. A major hurdle for bulls lies at 1.2788 (55-month EMA). Break above will see gains till 1.30 mark.
