Technical outlook and chart setups:
The GBP/CHF pair is trading around 1.4360 levels after printing lows at 1.4200 levels last week. The pair is forming a HARAMI candlestick pattern on the daily chart, indicating a potential reversal from current levels. But we need confirmation, so let the pair break above 1.4600 levels before looking to trade again. It is hence recommended to remain flat for now and wait for further confirmation to initiate long positions. Immediate support is seen at 1.4200 levels, while resistance is seen at 1.4600 levels. Please note that the pair has bounced from the Fibonacci 0.786 levels around 1.4200 levels.
Trading recommendations:
Remain flat for now. Looking to go long again.
Good luck!
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