Technical outlook and chart setups:
The GBP/CHF pair has dropped further low to 1.5250 levels, which is the 50% retracement of the rally between 1.5000 and 1.5525 as seen here on the daily chart. It is still probable that the pair bounces back from here or from 1.5200 levels and pushes higher. So recommendations are to remain long and add further towards 1.5200 levels. Risk remains below 1.5150 levels. Please note that the current drop from 1.5520 levels would still be considered as a correction and a rally remains possible till prices stay above 1.5000.
Trading recommendations:
Remain long for now, move stop to 1.5140, add further positions if prices reach 1.5200, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
