Technical outlook and chart setups:
The GBP/CHF pair continues to consolidate ahead of 1.4200. The pair is trading at 1.4085 looking for an opportunity to rally yet again until prices stay broadly above 1.4000. The structure still remains constructive enabling bulls to perform a rally above 1.4300 before topping out and producing a meaningful correction lower. It is hence recommended to remain long with risk at 1.4000. Immediate support is seen at 1.4025, while resistance is seen at 1.4300. Bulls are expected to remain in control poised to take out 1.4300.
Trading recommendations:
Remain long for now, stop is at 1.4000, a target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com