GBP/CHF is again at major support around the 1.1070/1.1110 area. We saw a price test in this area in December last year and also in late January. Today’s data from the GBP saw GDP come out at 0.3%m/m, way higher than the expectation of 0.1%m/m. The price rebounded from 1.1080 and is now trading around 1.1150.
Note the bullish pin bar on the 4 hours off this support area. We will focus on buy setups on GBP/CHF, aiming resistance at 1.1360 first, then 1.1430 next.
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