Technical outlook and chart setups:
The GBP/CHF pair dropped to 1.4500 as seen here, before puling back higher again. Please note that the pair has formed a morning star candlestick pattern indicating a potential reversal on the higher side. Also, bulls are expected to remain in control until prices stay above 1.4150. It is hence recommended to remain long for now and add further on dips as well. The pair should be able to push through the level of 1.4700 in coming sessions. Immediate support is seen at 1.4500 (interim) followed by 1.4400, 1.4150, and lower. Resistance is seen at the level of 1.4700 respectively.
Remain long for now, stop is at 1.4400, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com