Technical outlook and chart setups:
The GBP/CHF pair is seen to be trading around 1.3810/15 levels for now, after dropping to 1.3720 levels last week. Please note that the pair remains in the sell zone (below trend line resistance), even on smaller timeframes and is supposed to find resistance around 1.3850 levels. Also note that 1.3850 levels is the trend line and fibonacci 0.382 resistance as well as depicted here. It is recommended to remain flat for now and look to short around 1.3850/60 levels, with risk above 1.3900 levels. Immediate support is seen at 1.3720/25 levels, while resistance is seen through 1.4050 levels respectively. The pair is expected to remain in control of bears, at least for now.
Trading recommendations:
Remain flat for now, look to go short at 1.3850/60 levels, stop above 1.3900, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com