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  |   Technicals


FxWirePro: GBP/CHF Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- GBP/CHF was trading 0.48% higher on the day at 1.1614 at around 09:35 GMT

- The pair has a six day downside streak, but upside looks limited

- GMMA indicator shows major and minor trend are bearish

- Price action is below major moving averages which are trending lower

- MACD and ADX support downside in the pair, Chikou span is biased higher

Support levels:

S1: 1.15 (Lower BB)

S2: 1.1113 (March 2020 low)

Resistance levels:

R1: 1.1663 (5-DMA)

R2: 1.1753 (200H MA)

Summary: GBP/CHF trades with a bearish bias. Recovery attempts lack traction. Scope for test of new multi-year lows.

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