Technical outlook and chart setups:
The GBP/CHF pair has taken support off the rising trend line instead is breaking below yesterday. The pair has rallied through the 1.4850/60 levels taking our stops out yet again at 1.4830 levels. It is confirmed that the uptrend remains intact and should probably continue to the 1.5150 levels at the sessions to come. Therefore, it is recommended to initiate long positions on dips towards 1.4730 with risk at 1.4650 respectively. Immediate support is seen at 1.4650, followed by 1.4570 and lower while resistance is seen at 1.4850 (interim), followed by 1.5150 and higher respectively.
Trading recommendations:
Remain flat and look to buy at 1.4730 levels.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
