Technical outlook and chart setups:
The GBP/CHF pair is seen to be stalling around the levels of 1.4300/20. It calls for clear initial resistance at the level of 1.4450 to confirm that bulls are back in control. It is recommended to exit long positions taken earlier at the current price and wait for further confirmation. Immediate support is seen at 1.4000 followed by 1.3850 and lower, while resistance is seen at 1.4450 followed by 1.4630, 1.4800, and higher respectively. Bulls would be back in control once 1.4450 is cleared and we shall be looking to buy on dips then.
Trading recommendations:
Exit long positions now. Remain flat.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
