Technical outlook and chart setups:
The GBP/CHF pair has pushed higher after bouncing off the 50 day moving average as discussed yesterday. The pair is seen to be trading around 1.5320 levels at the moment, being just shy of recent highs created. It is recommended to book profits on long positions taken and remain flat. An aggressive trade strategy could be to initiate short positions, with risk at 1.5390 levels. Immediate support is seen at 1.5150 levels, followed by 1.5050, 1.4950 and lower while resistance is seen at 1.5360/70 and higher respectively.
Exit long positions and remain flat. Aggressive trade strategy could be to initiate short positions, stop at 1.5390, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com