Technical outlook and chart setups:
The GBP/CHF pair retraced to its past resistance turned support as seen in the 4-hour chart. Furthermore, a bullish bounce has appeared on smaller timeframes indicating a potential reversal higher. It is hence recommended to initiate long positions around 1.4380/90 with risk at 1.4200. The upside potential remains at the levels of 1.4630 and 1.4830 respectively. Immediate support is seen at 1.4200 followed by 1.4100, 1.3850, and lower while resistance is seen at the level of 1.4630 followed by 1.4830, 1.4900, and higher respectively.
Trading recommendations:
Initiate long positions now, stop at 1.4200, a target is open.
Good luck!
