Technical outlook and chart setups:
It was discussed yesterday to short 50% around 1.5470 levels, as aggressive trade strategy. The GBP/CHF pair popped up an intraday high at 1.5540/45 levels and gave in sharply (unexpected drop) into the 1.1780/1800 region. Technically, the pair has hit the fibonacci 0.681 resistance at 1.5540/45 levels and might move below 1.1500 levels in the weeks/months to come by. Please note that intraday/short term supports and resistances shall form in the coming sessions.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
