Technical outlook and chart setups:
The GBP/CHF pair has continued to drift lower and has made another low at the level of 1.4409 for now. Furthermore, it has tested the past support at the level of 1.4412, which calls for a pullback from the current levels at least. It is recommended to remain flat for now or hold long positions with a risk at the level of 1.4390. A rally from the current levels might bring bulls back in control and push through fresh highs as well. Immediate support is seen at 1.4250, followed by 1.4000 and lower while resistance is seen at 1.4630, followed by 1.4800, 1.4960, and higher respectively.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
