Technical outlook and chart setups:
The GBP/CHF pair has again pushed higher into the levels of 1.4530/40 taking stops out at the levels of 1.4420 for short positions taken yesterday. It is clear that the pair is headed towards the levels of 1.4650/1.4750 at least from here. Immediate support is seen at 1.4260/70 followed by 1.4000, 1.3850 and lower, while resistance is seen at 1.4650 followed by 1.4750 and higher, respectively. It is recommended to remain flat for now and look to enter buying around the levels of 1.4380 levels with risk around the levels of 1.4250. Bulls are forming higher highs and higher lows for now and sequence could continue until 1.4250 remains intact.
Trading recommendations:
Remain flat for now and look to buy lower around the levels of 1.4380.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
