Technical outlook and chart setups:
Th GBP/CHF pair is trading around the levels of 1.4540/50 at the moment after hitting lows around 1.4450 yesterday. Please note that a potential dip towards 1.4430 and 1.4400 respectively is still probable . Also note that fibonacci 0.618 support and rising trend-line support fell around the 1.4400/10 region as well. It is recommended to book profits on short positions partially or completly and look for an opportunity to initiate long positions around 1.4430. Immediate support is seen at 1.4400 followed by 1.4250 and lower, while resistance is seen at 1.4725 and 1.4830 respectively.
Book partial/full profits on short positions. Look to buy around 1.4430 again.
The material has been provided by InstaForex Company – www.instaforex.com