Technical outlook and chart setups:
The GBP/CHF pair seems to be poised to resume rally from here on (1.5320), after having bounced off the level of 1.5250 yesterday. The pair has been receiving support at the 1.5200/50 levels earlier. A push through 1.5400 would confirm that a bottom is in place at 1.5250 levels. It is recommended to remain long and also to look to add further if prices manage to reach 1.5200. Risk remains at 1.5150 for now. Immediate support is seen at 1.5200 levels, followed by 1.5100, 1.5000 and lower, while resistance is seen at 1.5400, followed by 1.5520 respectively. Bulls could be looking to push it higher towards 1.5620 levels now.
Trading recommendations:
Remain long, stop at 1.5140, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
