Technical outlook and chart setups:
The GBP/CHF pair is trading around the 1.4750 levels for now, well above its lows at the 1.4600 levels last week. The pair is consolidating for now and a high-possible move from here should be on the upside, and a break above 1.4800 would be required to confirm it. It is recommended to initiate 50% long positions now with risk at the 1.4600 levels. Immediate support is seen at the 1.4600 levels, followed by 1.4550 and lower, while resistance is seen at the 1.4900 levels, followed by 1.5050 and higher. The pair could potentially rally through the 1.5200 levels from here before reversing.
Trading recommendations:
Initiate long positions now, stop is at 1.4600, target is open.
Good luck!
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