Technical outlook and chart setups:
The GBP/CHF pair has been stalling ahead of 1.4460 levels for now. Immediate resistance is fixed around 1.4450/60, followed by 1.4630, 1.4800, and higher, while support is seen at 1.4200 (interim), followed by 1.4000, 1,3800, and lower respectively. Bears might be looking to regain control back and push the pair lower towards 1.4000 at least. It is hence recommended to initiate short positions with risk at 1.4490 for now. A drop is favored untill prices remain below the level of 1.4460.
Trading recommendations:
Initiate short positions now, stop at 1.4490 target 1.4000 at least.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
