Technical outlook and chart setups:
The GBP/CHF pair has been holding above 1.5150 levels for now and is seen to be carving a higher low at sub 1.5175/1.5200 levels for now. Please also note that 1.5150 is the fibonacci 0.618 support of the rally between 1.5075 and 1.5350/60. Furthermore the intermediary support trend line and past resistance turned support zone also converge at the same level. Hence it is recommended to remain long for now, with higher probability for the pair to rally through 1.5450 levels in the sessions to come. Immediate support is seen at 1.5075 while resistance is seen at 1.5450 levels respectively.
Trading recommendations:
Remain long, stop at 1.5000, the target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
