Technical outlook and chart setups:
The GBP/CHF pair is trading around 1.5060 levels now after bouncing off from 1.4900 yesterday. Please note that 1.4900 was resistance, which turned support, and bulls are expected to remain in control until prices stay above the same level. It is hence recommended to remain long from positions taken earlier, with risk at the levels of 1.4900. Immediate support is seen at 1.4900 followed by 1.4750, 1.4600, and lower, while resistance is seen at 1.5100 (interim) followed by 1.5350, 1.5400/10, and higher respectively.
Remain long with stop at 1.4900, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com