GBP/CHF chart on Trading View used for analysis
- GBP/CHF is trading largely unchanged at 1.3060 at 1140 GMT.
- The pair has bounced off 20-DMA support and we see weakness only on break below.
- Technical studies support upside in the pair. Price action above cloud and major moving averages.
- Momentum studies are bullish. RSI is above 50 and bias is higher.
- We see stiff resistance at 1.31 (major trendline resistance). Break above will see upside continuation.
- 5-DMA is immediate support at 1.3064. Break below 20-DMA will see further weakness.
Support levels - 1.3063 (5-DMA), 1.2992 (20-DMA), 1.2871 (55-EMA)
Resistance levels - 1.31 (trendline), 1.3120 (Jan 28 high), 1.3172 (Nov 8 high)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
