Technical outlook and chart setups:
The GBP/CHF pair re-tested lows of 1.4815 before bouncing back higher. The pair is trading at 1.4880 and might form a meaningful low now. A breakout below the level of 1.4800 should see 1.4750 as next support coming in. It is recommended to remain long with risk at 1.4700. Immediate support is seen at the level of 1.4750 followed by 1.4700 and lower, while resistance is seen at 1.5000 followed by 1.5150, 1.5330, and higher. The structure still remains intact until prices remain broadly above the level of 1.4550.
Trading recommendations:
Remain long with stop at 1.4700, a target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com