GBP/CHF chart on Trading View used for analysis
- GBP/CHF spikes past 200-DMA to hit 10-week highs at 1.30, bias remains bullish.
- Technical studies support upside, momentum highly bullish and we see rise in volatility.
- Price action above daily cloud and we see scope for further gains.
- Next major bull target above 200-DMA lies at 50% Fib at 1.3052 ahead of 1.3172 (Nov 8 high).
- Immediate support lies at 200-DMA at 1.2950. Break below 110-EMA will see further weakness.
Support levels - 1.2950 (200-DMA), 1.2898 (5-DMA), 1.2771 (110-EMA)
Resistance levels - 1.3052 (50% Fib), 1.31, 1.3172 (Nov 8 high)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.