- GBP/CHF has formed a temporary bottom at 1.2955 and recovered sharply from that level. The pair hits high of 1.31850 and shown a minor decline. GBP was trading higher against all majors on account of positive developments on Brexit and good economic data. It is currently trading around 1.30500.
- Any convincing break close below 1.2950 will drag the pair to next level till 1.2900/1.2830.
- The near term resistance is around 1.3100 and any break above will take the pair till 1.3185/1.3200. Minor bullishness only above 1.3200 (61.8% Fibo).
It is good to sell on rallies around 1.2980-1.2985 with SL around 1.3035 for the TP of 1.2900/1.2835.