FxWirePro: GBP/NZD downside pressure is building, chances of a bigger collapse to key fibo support grows
FxWirePro: GBP/CHF extends positive momentum ahead of BoE, on verge of cloud breakout
GBP/CHF chart - Trading View
GBP/CHF is extending upside on the day ahead of the Bank of England (BOE) monetary policy decision.
The pair was trading 0.17% higher on the day at 1.2828, after closing 0.11% higher in the previous session.
Price action is hovering at daily cloud top resistance and cautious sentiment prevails amid virus-led pessimism and the Brexit deadlock.
The BoE is expected to keep policy unchanged. Bulls eyeing hawkish BOE statement for impetus.
GBP/CHF trades with a bullish technical bias. Decisive break above daily cloud will propel the pair higher.
Next major bull target lies at 88.6% Fib at 1.3060. Rejection at daily cloud and breach below will negates any further upside.