Technical outlook and chart setups:
The GBP/CHF pair is stalling at 1.5400 levels for now; after pulling back from 1.5470 resistance levels earlier. A push below 1.5375 would be still required to accelerate further downfall towards 1.5200. Immediate support is seen at 1.5300, followed by 1.5200, while resistance is fixed at 1.5550 respectively. It is recommended to remain short for now, risk remains above 1.5550. The pair is poised to correct at least towards 1.5200 before resuming rally again. Please note that fibonacci 0.618 support and past resistance turned support region is also around the same level 1.5200/1.5180.
Trading recommendations:
Remain short for now, stop at 1.5560, target 1.5200.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
