GBP/CHF Rebounds Toward 1.0611 as Head-and-Shoulders Bottom Forms

On May 21 2026, GBP/CHF rebounded from 1.0468 after UK fiscal and political risk fears eased. Supportive comments from Andy Burnham, an IMF upgrade to the UK 2026 growth forecast, and retreating oil prices reduced safe-haven demand for the franc. The pair now tests immediate resistance at 1.0611; a sustained break above the 1.0674 neckline would complete the head-and-shoulders bottom (left shoulder 1.0362, head 1.0281, right shoulder 1.0468) and open targets at 1.0797 and the 100% projection near 1.0861. Failure to clear 1.0611 would revive downside risk toward the 1.0281 low.