Technical outlook and chart setups:
The GBP/CHF pair had pair hit the levels around 1.5100 and performed a bearish bounce as expected. The pair is trading around 1.5020/30 at the moment. It is expected to continue drifting lower to at least 1.4200. It is recommended to remain short (from 1.5100 levels), with risk around 1.5400. Immediate support is seen at the levels of 1.4900 followed by 1.4750, 1.4600, and lower, while resistance is seen at 1.5100 (interim), followed by 1.5350, 1.5400, and higher respectively.
Remain short for now, place stop at 1.5400, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com