Technical outlook and chart setups:
The GBP/CHF pushed through 1.5400 levels as seen here. Please note that 1.5425 is the 0.618 resistance of drop from 1.5520 to 1.5250 levels. If the pair drops below 1.5300 levels from here, it would indicate that it could reach at least to 1.5200 levels before rallying further up. It is recommended to remain long from earlier positions taken last week and move risk to 1.5300 levels. Immediate support is seen at 1.5300 levels, followed by 1.5250, 1.5200 and lower while resistance is seen at 1.5425 (interim), followed by 1.5520 respectively. Bulls should remain in control as long as prices remain above 1.5300 levels for now.
Trading recommendations:
Remain long for now, move stop to 1.5300, the target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
