Technical outlook and chart setups:
The GBP/CHF pair is seen to be trading around the 1.5470 levels for now, might be looking to drop lower to the 1.5370/80 levels before resuming its rally. Bulls are expected to remain in control until the 1.5280 levels remain intact. The rally from 1.5280 to 1.5525 levels is expected to retrace lower to its Fibonacci 0.618 levels at 1.5380, before it resumes towards new highs. It is hence recommended to remain flat for now and look to buy at lower levels. Immediate support is seen at the 1.5380 levels followed by 1.5280, while resistance is seen at the 1.5570 levels.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com