Technical outlook and chart setups:
The GBP/CHF is trading around 1.4720/25 at the moment. Please note that the pair is stalling at the fibonacci 0.618 resistance after a drop from 1.4833 to 1.4550 respectively. A push higher could test the level of 1.4770 before reversing lower. It is hence recommended to remain short from yesterday and look to add further at 1.4770 with risk at 1.4850. Immediate support is seen at 1.4500/50 followed by 1.4400, 1.4250, and lower. Resistance is seen at 1.4830 and higher respectively.
Remain short and add more around 1.4770, stop is at 1.4850, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com