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Technical analysis for the GBP/CHF, the pair closed below the low at 1.2473, breaking out of range. The first target of this breakout is the 0.618 FIB retracement at 1.2210. If the price break below 1.2210, it will extend the bearish run toward the 1.618 FIB extension at 1.2040.
On the other hand, if the GBP/CHF break above the previous high at 1.2553, it will open the door for a bullish run toward the resistance at 1.2720-1.2770.
Daily chart:
Weekly chart:
