Technical outlook an chart setups:
The GBP/CHF pair had earlier dropped to 1.4117 and remained shy of 1.4100 before pulling back into the area around 1.4250. The pair seems to be poised to rally through 1.4800 from here in a corrective manner. It is hence recommended to remain long with risk at the level of 1.4100. Immediate support is seen at 1.4000 followed by 1.3850 and lower, while resistance is seen at 1.4460 followed by 1.4630, 1.4800, and higher respectively. A break above 1.4450/60 would confirm that GBP/CHF has resumed corrective rally.
Trading recommendations:
Remain long, stop at 1.4100, target 1.4800.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
