FxWirePro: GBP/CHF bounces off 55-EMA support, outlook turning bullish

GBP/CHF chart - Trading View 

GBP/CHF was trading 0.28% higher on the day at 1.2753 at around 12:15 GMT, outlook turning bullish.

Upbeat UK Retail Sales and mixed UK PMI prints fail to impress bulls or provide any impetus.

Uncertainty over the post-Brexit agreement on Northern Ireland keep a lid on any meaningful upside for the pair.

Technical bias is turning bullish. Price action has bounced off 55-EMA support and looks set to extend upside.

Price action has retraced dip below 200H MA and is on track to close in the green for the 2nd straight week.

Oscillators have turned higher. RSI and Stochs are now biased higher. Pullbacks have been contained at cloud base.

Support levels - 1.2687 (55-EMA), 1.2585 (Lower BB), 1.2549 (110-EMA)

Resistance levels - 1.2796 (Upper BB and 55-month EMA), 1.28, 1.3073 (April high)

Summary: GBP/CHF is extending sideways grind along 21-EMA support. Technical indicators are turning slightly bullish. 55-month EMA is stiff resistance on the upside. Further gains only on decisive break above.