GBPCHF slumped below the 200-day simple moving average (SMA) which proved an easy obstacle this time but the former strong support region around 1.2190 from the 2016-2017 period came to the rescue. Although the RSI, Stochastics and Bollinger bands reflect oversold conditions, the indicators have yet to reverse north, keeping the short-term bias negative. Should the wall around 1.2190 collapse, the sell-off could stretch until the 1.2090 familiar barrier, a break of which could stage another downfall towards 1.1900. On the upside, the bulls should initially run above the 61.8% Fibonacci of 1.2298 of the 1.1670-1.3307 ... (full story)