Technical outlook and chart setups:
The GBP/CHF pair dropped lower to 1.4550/1.4600 as we had discussed and expected and raised through the levels of 1.4800/25 as seen here on the H4 chart. Please note that potential now remains for a push through 1.5000 and higher from here on. Bulls are expected to remain in control until prices stay above 1.4450/1.4500 broadly. It is hence recommended to remain long and also look to add further on dips. Immediate support is seen at 1.4550 (interim), followed by 1.4450/70 and lower while resistance is seen at 1.4830/50 respectively. A sharp reversal from here and subsequent break of 1.4550 could confirm a double top.
Remain ling from yesterday and look to add on dips, stop is at 1.4500, a target is at 1.5000.
The material has been provided by InstaForex Company – www.instaforex.com