Technical outlook and chart setups:
Yesterday, the GBP/CHF pair dropped lower to 1.4220 before pulling back again. The pair is trading above the level of 1.4300 at the moment and could be looking to rally towards 1.4600/50 at least. Please note that the resistance turned to be support trendline is still valid and a push above 1.4400 would be encouraging for bulls. It is hence recommended to remain long from yesterday with risk at 1.4200 for now. Immediate support is seen at the level of 1.4150 followed by 1.4000, 1.3850, and lower. Resistance is seen at 1.4450 (interim) followed by 1.4650, 1.4700, and higher respectively.
Remain long for now, stop is at 1.4200, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com