GBPCHF: Central bank divergences favors upside risk

Since early June the cross has been locked between 1.3270 and 1.3120. The daily studies RSI and oscillator are remaining bullish helped the cross to settle above 20MA for the first time since April. A bullish break above the range could open to 1.3330 initially above this, 1.3450 and 1.3490 are the open targets with supports at 1.3120 and 1.3050. The flip side, any break below 1.3050 could open towards 1.3000, 1.2920 and 1.2850 levels.