FxWirePro: GBP/CHF Daily Outlook

GBP/CHF chart - Trading View 

Technical Analysis: Bias Bearish

GMMA Indicator

- Major Trend: Bearish

- Minor Trend: Bearish

Ichimoku Analysis

- Price action has dipped into daily cloud

- Bearish Tenkan Sen crossover below Kjun Sen adds to the bearish bias

Oscillators

- RSI is below 50 and poised for further downside

- Stochs are in oversold zone, but no major signs of reversal seen

Bollinger Bands

- Bollinger Bands are widening on the daily charts

- Rising volatility could drag prices lower

High/Low: 

- Previous Week High/Low - 1.2120/ 1.1963

- Previous Session High/Low - 1.1909/ 1.1852

Major Support Levels: 1.1844 (Lower BB), 1.1820 (trendline), 1.1675 (Aug 2019 low)

Major Resistance Levels: 1.1912 (50-DMA), 1.2011 (20-DMA), 1.2063 (55-EMA) 

Summary: GBP/CHF is sliding lower after failure to extend break above 55-EMA. Technical analysis supports weakness. The pair is extending sideways for the third straight session. Watch out for break below 1.1820 to go short, target 1.17, Stop Loss 1.19.