Technical outlook and chart setups:
The GBP/CHF pair has been inching higher since it has broken out of consolidation above the levels of 1.3350/1.3400 earlier. The pair has upside potential untill at least 1.4650/1.4730 provided the levels of 1.4100 remain intact. It is recommended to remain long for now, risk remains at the levels of 1.4100. Please note that the sequence of higher highs and higher lows is intact since the pair broke above the marks of 1.3400 earlier. The bulls are poised to remain in control untill prices stay above the levels of 1.4100 for now. Immediate support is seen at 1.4100 followed by 1.4000, 1.3850 and lower, while resistance is seen at 1.4650 followed by 1.4730 levels and higher, respectively.
Trading recommendations:
Remain long; stop is at 1.4100, target is at least 1.4650/1.4730.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
