GBPCHF - Rising up

GBPCHF (1H) - short term bullish bias

The pair is now trading sideways around the 30-day moving average after the pound's meteoric rise. Short-term traders have an opportunity to trade along the uptrend as the hourly chart is making its way back up. The RSI divergence was an indication that the sell-off was slowing down in the congestion area of 1.2670. The breakout above the immediate resistance of 1.2725 and the bullish MA cross are confirmations that buyers are getting into the game.

Key support: 1.2710
Key resistance: 1.2780