Technical outlook and chart setups:
The GBP/CHF pair is seen to be trading around 1.4510/15 now after pulling back lower from 1,4550/60 yesterday. The pair should be still poised to at least retrace/pullback towards the level of 1.4250 before rallying ahead. Bulls should be poised to remain in control until the prices stay above 1.4150 from here on. It is therefore recommended to remain short for now with risk around 1.4650 or to remain flat and wait for a drop lower before going long again. Immediate support is seen at the level of 1.4400 followed by 1.4200, 1.4150, and lower. Resistance is seen at 1.4650/1.4700 respectively.
Remain short, stop at 1.4650, a target is at 1.4250. Remain flat and look to buy lower.
The material has been provided by InstaForex Company – www.instaforex.com