Technical outlook and chart setups:
The GBP/CHF pair is seen to be trading around 1.4460 levels at the moment, looking to drop further lower towards at least 1.4200/50 levels. Please note that the pair had earlier bounced off the fibonacci 0.618 support around 1.4150 levels as seen here. Bulls should be poised to remain in control till prices stay above 1.4150 levels for now. It is recommended to remain short for now, with risk around 1.4650 levels. Immediate support is seen at 1.4150 levels (interim), followed by 1.4000 and lower while resistance is seen at 1.4550 levels (interim), followed by 1.4650/1.4750 and higher respectively.
Remain short for now, stop at 1.4550, a target is at 1.4250.
The material has been provided by InstaForex Company – www.instaforex.com