In an instant pot set to sauté mode add in 1 tablespoon olive oil, onions and peppers. Sauté until softened, about 5 minutes and set aside. Cancel the sauté mode.
Place the sliced chicken in a medium bowl. Add olive oil and fajita seasoning. Gently stir until the chicken is evenly coated.
Layer the seasoned chicken evenly along the bottom of the Instant Pot. Pour in the broth and lime juice.
Close the lid of your instant pot and set the vent to sealing. Pressure cook on manual high pressure for 5 minutes. My instant pot took 10 minutes to come to full pressure and start cooking.
When your chicken is cooked, use the quick release to vent the pressure. Stir chicken and broth. Add the peppers and onion to the sauce. Salt and pepper to taste.
Using tongs, remove the chicken, peppers and onions and add to a serving dish. You can leave the excess liquid in the pot.
Serve with warm tortillas and top with crumbled queso fresco. Optional garnishes: avocado, sour cream, salsa, lime wedges and fresh cilantro.