GBPCHF Chart Technical Outlook faces a resistance zone, bears could sell on risk appetite
GBP/CHF broad bias is bearish. Prices have been correcting higher toward the resistance zone of 50% and 61.8% Fibo levels.
The pair correlates negatively with stocks in the wide time frames, while the correlation is mixed in intraday charts. Investors are eyeing the US inflation data due today. A soft print would trigger risk appetite. This should limit the recent rally in the pair.
There is room for mild gains, but I expect the resistance zone to hold and the rally to find sellers.
Resistances: 1.0880, 1.0915
Supports: 1.0800, 1.0775
