Technical outlook and chart setups:
The GBP/CHF pair has dropped close to the level of 1.4400 after printing highs at 1.4600 yesterday. The pair has tested the resistance trend-line twice before reversing sharply as seen here. Bears are expected to remain in control untill prices stay below the level of 1.4600. It is hence recommended to hold short positions and also look to build fresh with risk at 1.4650. Immediate resistance is seen at 1.4600 followed by 1.4700, 1.4800,1.4950, and higher, while support is seen at 1.4300/30 followed by 1.4150 and lower respectively.
Remain short for now, stop at 1.4650, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com