GBPCHF Chart Technical Outlook points to further temporary losses, pivot support 1.1350
GBP/CHF’s broad bias is bullish. The pair is positively correlated to the stock market. Recent risk aversion due to geopolitical risks and a hawkish Fed weighs on the pair. Prices printed a higher high this week but failed to stay at the high ground and retreated lower. In intraday charts, it showed overbought and bearish divergence. I expect further temporary losses toward 1.1350, confluence support of this week’s low, and the daily ATR range. The dip could be bought to extend a consolidation phase of the recent rally. Resistance is at 1.1450.
