GBP/CHF analysis for March 26, 2021

Looking at the chart on the four-hour time frame, we see that the GBP/CHF pair is consolidating closer and closer to the level of 1.30000, and now again, there is a possibility to see a break above that resistance. The break above us leads to 1.31000. otherwise, if we see rejection, the pullback lowers us to 1.29000, where we are supported by moving averages MA20 and EMA20. For a further drop below 1.28000, it pushes us towards greater support on the MA200 and EMA200. For now, we look at the bullish side, expecting a break above by winning higher levels on the chart.

On the daily time frame, we see that the GBP/CHF pair finds support in the moving averages MA20 and EMA20, directing the GBP/CHF pair towards the psychological level at 1.30000. The break is very likely, and we can expect that in the coming period. For a deeper pullback, there is no indication on the chart for now, and if there is, we are looking for it at 1.27730, the place of the previous rejection.

On the weekly time frame, we see how strong the bullish trend is and that the GBP/CHF pair after last week’s pullback managed to recoup all losses by making a FLAG pattern, giving us a signal for the expected continuation of the trend. As a potential target, our first level is 1.3200, followed by 1.33000 levels from December 2019.

From the news for the  GBP/CHF currency pair, we can single out the following: The UK continues with the next phase of reopening the economy in the midst of a successful vaccination campaign.
The government’s move does not meet with any deviation from the medical community or the opposition. Retail sales in the UK jumped by over 2% in February, showing the economy’s resilience just before the first phase of reopening. He adds to the narrative that Britain is starting to recover from a strong base.
EU leaders have softened their rhetoric and do not seem to want to slam off bans on vaccine exports – which threatened to derail the immunization campaign.
However, potential troubles could also start here – members of the bloc have also given Brussels the authority to stop shipments, and tensions remain high amid growing frustration over the EU’s sluggish vaccination campaign.