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Chart - Courtesy Trading View
GBP/CHF was trading 0.32% higher on the day at 1.2360 at around 10:30 GMT.
The pair was trading pivotal at 55-EMA resistance, decisive break above required for upside continuation.
Price action is now above 200H MA and GMMA indicator has turned bullish on the intraday charts.
Momentum is with the bulls, stochs and RSI are sharply higher, RSI is well above the 50 mark.
MACD supports upside, Chikou span is biased higher. Volatility is high and rising.
Pound under pressure as resurfacing Brexit concerns offset the Omicron optimism.
Support levels - 1.2321 (5-DMA), 1.2283 (21-EMA)
Resistance levels - 1.2360 (55-EMA), 1.2447 (110-EMA)
Summary: GBP/CHF was trading with a bullish bias. Watch out for decisive break above 55-EMA for upside continuation. Next major bull target lies at 110-EMA at 1.2447.
