Technical outlook and chart setups:
1. The GBP/CHF pair has run through the 1.5200 levels for now, after printing lows at 1.5050 last week. The pair could still test the falling trend line at 1.5250 levels as seen here; before dipping lower further. It is recommended to initiate short positions around 1.5250 region.
2. Support is seen at 1.4950/60, followed by 1.4770 and lower while resistance is seen at 1.5250, followed by 1.5350 and 1.5450 respectively.
3. The structure indicates that GBP/CHF could face resistance around 1.5250 levels and turn lower.
Trading recommendations:
Initiate short positions around 1.5250 levels.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
