GBP/CHF 0.04% has edged lower from 5-week highs at 1.2742, bias bullish .
The pound remains buoyed ahead of UK labor market report.
Upbeat growth in the UK’s wages could further the ongoing bullish momentum seen around the pound.
Technical indicators are turning bullish on the intraday charts. Stochs and RSI have rolled over from oversold levels.
The pair has broken above 21-EMA and is poised for further upside.
Support levels - 1.2645 (21-EMA), 1.2592 (5-DMA), 1.25
Resistance levels - 1.2788 (23.6% Fib), 1.2848 ( 50-DMA 0.00% ), 1.30 (38.2% Fib/)
Good to go long on dips, SL: 1.2590, TP: 1.2785/ 1.2850/ 1.30
Submit Your Comments: