Technical outlook and chart setups:
The GBP/CHF pair is seen to be trading at 1.4110 levels at this moment, looking to continue pushing lower. Please note that the pair has formed a bearish evening star candlestick pattern on the 4H chart view yesterday, indicating a potential bearish move ahead. Also, the short rally from 1.4020 through 1.4130 levels seems to be a pullback, so the pair should accelerate lower from here. Looking into the structure, the pair seems to have completed its 3 wave corrective rally that began from 1.3500 levels yesterday and should resume its down move from here on. It is hence recommended to remain short with risk above 1.4350 levels. Immediate support is seen at 1.4022 levels, while resistance is at 1.4200 levels respectively.
Trading recommendations:
Remain short now, stop above 1.4350, target below 1.3500.
Good luck!
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