Technical outlook and chart setups:
The GBP/CHF pair might have formed a higher low at 1.5250 levels last week. Bulls should be poised to push prices higher towards 1.5620 levels at least, as long as 1.5250 level remains intact. It is hence recommended to remain long, keeping risk just below 1.5300 levels for now. Immediate support is seen at 1.5250 levels (interim), followed by 1.5200, 1.5000 and lower while resistance is seen at 1.5450, followed by 1.5520 respectively. Looking into the wave structure, the pair should form another high (around 1.5620/30 levels), before producing a meaningful pullback.
Trading recommendations:
Remain long, stop below 1.5300, a target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
