Technical outlook and chart setups:
The GBP/CHF pair has raised through the trend line resistance above 1.5350 levels yesterday as seen here. It is recommended to book partial profits on long positions taken earlier and move risk to break even levels. A pullback remains possible and it should be considered as further opportunity to initiate long positions. Immediate support is seen at 1.5150 levels, followed by 1.5000, 1.4950 and lower while resistance is seen at 1.5450/75 and 1.5550 respectively. Bulls are in control now and shall remain till prices remain above 1.4950 levels for now.
Trading recommendations:
Remain long and book partial profits. Stop at break even levels. The target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
