GBP/CHF upside remains capped at major trendline resistance at 1.3265. Break above could take the pair higher.
Price action has broken above 200-DMA at 1.3231, but is struggling to extend gains above.
Technical indicators are bullish on the daily chart. Momentum bullish, RSI above 50.
Breakout at major trendline resistance at 1.3265 could see test of 38.2% Fib at 1.3241.
Retrace below 200-DMA could invalidate the bullish bais.
Support levels - 1.3231 (200-DMA), 1.3210 (5-DMA), 1.3167 (21-EMA)
Resistance levels - 1.3265 (trendline), 1.33, 1.3329 (100-DMA)
Good to go long on breakout above trendline at 1.3265, SL: 1.3230, TP: 1.33/ 1.3340/ 1.34.
Price action has broken above 200-DMA at 1.3231, but is struggling to extend gains above.
Technical indicators are bullish on the daily chart. Momentum bullish, RSI above 50.
Breakout at major trendline resistance at 1.3265 could see test of 38.2% Fib at 1.3241.
Retrace below 200-DMA could invalidate the bullish bais.
Support levels - 1.3231 (200-DMA), 1.3210 (5-DMA), 1.3167 (21-EMA)
Resistance levels - 1.3265 (trendline), 1.33, 1.3329 (100-DMA)
Good to go long on breakout above trendline at 1.3265, SL: 1.3230, TP: 1.33/ 1.3340/ 1.34.
