Technical outlook and chart setups:
The GBP/CHF remains unchanged from what was discussed yesterday and is seen trading above 1.4700 handle for now. The pair should be poised to remain in control of bulls till prices stay above 1.4580 levels. Furthermore, it is expected to reach 1.4900/75 levels in the coming sessions. Hence, recommendations are to hold long positions for now, risk below 1,4580 levels. Immediate support is seen at 1.4580 (interim), followed by 1.4400, 1.4300 and lower while resistance is seen at 1.4750/60 (interim), followed by 1.4900/75 and higher respectively. On the flip side, a break below 1.4580 would confirm that a lower top is in place at 1.4750 levels.
Trading recommendations:
Remain long, stop at 1.4550, a target 1.4900/75.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
