Technical outlook and chart setups:
The GBP/CHF pair is still testing the back side of the resistance line, which is supported around 1.5320 levels. A bullish bounce here could push prices towards 1.5525 levels and higher. Immediate support is seen at 1.5285 (interim), followed by 1.5075, 1.5000 and 1.4950 while resistance is seen at 1.5450/75 and 1.5550 respectively. It is recommended to remain long from earlier positions, risk at break even. Bulls should remain in control till prices remain above 1.5100 levels. A push above 1.5400 levels would confirm that the pair is headed towards fresh highs in the coming sessions to come.
Trading recommendations:
Remain long, stop at break even levels, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
