Technical outlook and chart setups:
The GBP/CHF pair is trading around the level of 1.4370 at the moment. Please note that the pair has bounced off 1.4250 earlie,r which is also fibonacci 50% support of the rally between 1.3800 and 1.4700 respectively. A drop below the level of 1.4200 would mean a test at fibonacci 0.618 support before resuming a rally. It is hence recommended to remain long for now and look for an opportunity to add further around 1.4150, risk remains at 1.4100. Immediate support is seen at 1.4200 (interim), followed by 1.4150, 1.4000, and lower. Resistance is seen at 1.4650 levels, followed by 1.4700 and higher respectively.
Remain long, stop is at 1.4100, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com