GBPCHF Chart Technical Outlook maintains a bullish bias, aiming for the 1.1450-60 area
The Pound keeps correcting higher after having bounced on a strong support area at 1.1215. The positive market sentiment coupled with a dovish SNB, that has already cut interest rates twice this year, is likely to keep the CHF on the defensive. Swiss retail sales data has failed to provide any significant support to the pair.
Price action broke and confirmed above the trendline resistance and extended beyond the 38,2% Fibonacci retracement. There is scope for further appreciation towards the 1.1450-60 area. Support levels are 1.1345 and 1.1310.
