Technical outlook and chart setups:
The GBP/CHF pair is pulling back from the level 1.4500 now and might be indicating that the top has beem formed around the same region. The pair is currently seen to be trading at 1.4469/70 and expected to drift lower from here on. It is hence recommended to book profits on long positions taken earlier and initiate short positions with risk around 1.4600. Immediate support is seen at the level of 1.4350 followed by 1.4200, 1.4100, and lower while resistance is seen at 1.4630 followed by 1.4800, 1.4900, and higher respectively.
Trading recommendations:
Book profits on long positions, initiate short positions, stop is at 1.4630, a target is open.
Good luck!
