The GBP/CHF is having a retracement, but the next move will be decided after the GBP CPI news.
The CPI defines a change in the price of goods and services purchased by consumers as consumer prices account for a majority of overall inflation. This is the very important data for the GBP. Better than expected result targets 1.2300 zone and 1.2300-20 could be good for potential short trades. If we see a rejection to the downside after the retracement pay attention to 1.2277, 1.2226 and 1.2200. If the price breaks 1.2345, bearish scenario will be invalidated.
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