Technical outlook and chart setups:
The GBP/CHF pair failed to break above 1.4400 twice at last sessions. The pair is seen to be trading at the level of 1.4300 now and is preparing to drop lower towards 1.4000 until prices remain below 1.4450. It is recommended to remain short for now with risk above the level of 1.4490. Immediate support is seen at 1.4000 followed by 1.3850 and lower, while resistance is seen at 1.4630 followed by 1.4950, 1.5150, and higher respectively. Bears are likely to remain in control for now.
Trading recommendations:
Remain short, stop at 1.4490, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
