Technical outlook and chart setups:
The GBP/CHF pair is seen to be stalled just above the level of 1.4400 as depicted on the 4H chart view. The pair could resume its downswing and target 1.4000 in the sessions to come. It is therefore recommended to take profits on long positions initiated earlier and remain flat for now. Immediate support is seen at 1.4200 (interim) followed by 1.4000, 1.3850, and lower, while resistance is seen at 1.4630 followed by 1.4800, 1.4950, and higher respectively. A bearish signal at the current levels would confirm that bears would resume the down swing.
Trading recommendations:
Book profits on long positions taken earlier.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
