FxWirePro: GBP/CHF struggles at 200-DMA and major trendline resistance, bias neutral

Chart - Courtesy Trading View 

GBP/CHF was trading 0.25% higher on the day at 1.2520 at around 11:50 GMT, bias neutral.

The pair remains capped below 200-DMA and major trendline resistance, decisive break above required for upside continuation.

According to the data released by the UK Office for National Statistics earlier on Tuesday, the number of people claiming unemployment-related benefits fell by 31.9K in January as against 43.3K previous. 

Further, the ILO Unemployment rate held steady at 4.1% during the three months ending December.

Details of the report showed that Average Earnings decelerated further in December, though were slightly better than market expectations. 

Worries over an imminent Russian invasion of Ukraine continues to weigh on investors' sentiment, supporting safe-haven Swiss franc and capping upside in the pair.

Technical bias for the pair remains neutral as long as the pair holds below 200-DMA and trendline resistance.

Technical bias is tilted bullish. Breakout above 200-DMA and trendline resistance will propel the pair higher.