A break above the 200 week MA today is key today

The GBPCHF is following the runs higher in the other CHF pairs including the USDCHF and the EURCHF.

A big technical catalyst for the pair is a move above the 200 week MA at 1.37616. That is the first move above the 200 week MA since first week of 2016. Stay above is more bullish for the pair. Last week, the pair moved and closed above the 50% midpoint at 1.35143. The 61.8% retracement comes in at 1.39996 (call it 1.4000).

Drilling to the hourly chart, the price today broke and based against the 200 week MA line at 1.3761. That gave the buyers the go-ahead to push higher. Topside trend lines at 1.3850 and 1.3877 are upside targets (each are moving higher). The lower trend line comes in at 1.3765 currently (and moving higher).