Technical outlook and chart setups:
The GBP/CHF pair seems to be breaking above 1.4400 at the moment. The next resistance should be met at 1.4630. Please note that the pair has bounced off the Fibonacci 0.382 support of the rally between the levels of 1.2800 and 1.5200 respectively. Potential still remains for a fresh high above 1.5200 from here on. Immediate support is seen at 1.4000, followed by 1.3850, while resistance is seen at 1.4630 followed by 1.4800 and higher respectively. Bulls should remain in control until prices stay above 1.4200.
Trading recommendations:
Remain long, stop at 1.4100, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
