Technical outlook and chart setups:
The GBP/CHF pair has raised through 1.5080 levels as discussed on March 09, 2015. The pair could push higher into 1.5150 from here on, but possibility remains for a dip first. As depicted here, the pair could initially drop towards 1.4920/30 levels before resuming a rally. Please note that the uptrend remains very much intact since the huge drop on January 15, 2015, and bulls are expected to remain in control till prices stay above 1.4760 levels. Immediate support is seen at 1.4820, followed by 1.4760,1.4656 and lower while resistance is seen at 1.5150, 1.5400 and higher respectively. Also note that the pair remains buy on dips since both short- and medium-term support trend lines remain intact.
Trading recommendations:
Look to buy around 1.4923 levels, stop is at 1.4800, a target is at 1.5150 and higher.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
