GBP/CHF: looking to rebound above the 200 SMA

GBP/CHF: looking to rebound above the 200 SMA

GBP/CHF has made a strong rally during November 15th session and it has been extending for the next two days, consolidating its price action slightly above the 200 SMA at H1 chart. Currently, the pair is being supported by the demand zone established between the 1.3049 and 1.3020 levels, at which we could expect a rebound in order to reach the Fibo target at -23.6% in 1.3192.

RSI indicator supports the bearish scenario in the short-term.

GBPCHFmH1.png

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