FxWirePro: GBP/CHF extends bull run for the 8th straight session, breaks above 200W MA

GBP/CHF chart - Trading View 

GBP/CHF was trading 0.46% higher on the day at 1.2646 at around 08:25 GMT, outlook strongly bullish.

The pair is extending the bull run for the 8th straight session, breaks above 200W MA at 1.2603. 

Data from the Office for National Statistics (ONS) showed on Tuesday that the unemployment rate edged higher to 5.1% in December from 5.0% previous, in line with market expectations.

Further, details of the report showed UK wages rose by 4.7% in December and January's jobless claims fell by 20,000, both better than expected.

UK Prime Minister Boris Johnson on Monday unveiled a new four-step plan to end restrictions by 21 June and lifted hopes for a swift UK economic recovery.

Upbeat UK jobs data and hopes for swift economic recovery keep th British pound buoyed, supporting the pair higher. 

Momentum studies are bullish. Stochs and RSI are sharply higher, RSI is above 60 which supports the current uptrend. 

The pair is enroute to test 1.28 mark (nearly converged 55 month MA and 76.8% Fib) ahead of 1.3311 (Dec 2019 high).