Technical outlook and chart setups:
The GBP/CHF pair is trading around the levels of 1.4500/10, just below the trend-line resistance as seen here. The pair is also drifting sideways in a decreasing resistance constant support form. It tends to break on the south side and a break below 1.4350/60 would accelerate further downfall. It is hence recommended to remain short with risk at 1.4630/50 now. Immediate support is seen at 1.4350 levels followed by 1.4150, 1.4000, and lower while resistance is seen at 1.4550 followed by 1.4600, 1.4700, and higher respectively.
Remain short for now, stop at 1.4630/50, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com