Technical outlook and chart setups:
The GBP/CHF pair hit the level of 1.4600 yesterday as it had been expected. The pair could retrace lower towards 1.4400 again before resuming a rally higher. It is recommended to book profits on long positions taken earlier and wait for a retracement. Immediate support is seen at the levels of 1.4400/50, which were the past resistance followed by 1.4200, 1.4100, and lower, while resistance is seen at 1.4630 followed by 1.4800, 1.4950, and higher respectively. Bulls are expected to regain control around 1.4400/50.
Trading recommendations:
Book profits on long positions taken earlier and remain flat.
Good luck!
