Technical outlook and chart setups:
As discussed yesterday, there was no significant changes in the price action up to now and the GBP/CHF pair is preparing for a retracement before resuming its rally. The pair is trading around the level of 1.4650 at the moment and might want to test 1.4700/10 before reversing lower towards 1.4150. It is recommended to remain short and look to add further around the levevl of 1.4700 with risk around 1.4760. Immediate support is seen at 1.4530 levels followed by 1.4400, 1.4300/50, and lower. Resistance is seen at 1.4700/10 followed by 1.4850 and higher respectively.
Remain short for now, stop at 1.4760, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com