GBPCHF Chart Technical Outlook is going through an upward correction, aiming for 1.1480 and 1.1522
The Pound has completed a 5-wave Elliott Wave bearish impulse and is correcting higher. The UK calendar is light today while in Switzerland, producer prices contracted against expectations in May, adding negative pressure on the CHF.
I expect the pair to maintain the immediate upside trend with bulls targeting the 38,6% Fibonacci retracement level, at 1.1480 ahead of 1.1522. Supports are 1.1390 and 1.1365.
