Technical outlook and chart setups:
The GBP/CHF pair is trading around 1.4650 at the moment after taking out resistance yesterday and hittig highs of 1.4750/60. The structure remains encouraging for bulls. There is potential for extension to 1.5000/50 and higher at coming sessions. A short correction can take place from here, which could be an opportunity to buy again. It is recommended to book profits on long positions taken earlier and look for an opportunity to enter at lower levels again. Immediate support is seen at 1.4500 followed by 1.4400, 1.4300, and lower. Rresistance is seen at 1.4750 (interim) followed by 1.5000 and higher respectively.
Book profits on long positions taken earlier, buy at lower levels.
The material has been provided by InstaForex Company – www.instaforex.com