Technical analysis – 7–13 February 2021
The price broke 6–7 months range to the upside on the weekly, daily charts and breaking descending triangle to the upside on the monthly chart. The first target of this break is the 1.272 FIB extension around 1.3050, before we have dynamic resistance, descending trend line on the weekly and then horizontal resistance around 1.2800, we need to see a break above them to talk about 1.3050.
The support zone to watch for rejection and resumption of this bullish break is between 1.2170 – 1.2230.
Review our 2021 technical analysis for the GBP-CHF.
Monthly chart:
Weekly chart:
