Technical outlook and chart setups:
As seen on the daily chart view here, the single currency pair has taken out the first intermediary resistance at 1.4260 yesterday. The stops are still in place at 1.4300 and next higher resistance is around the 1.4350 mark. At the moment, GbpChf seems to be preparing for a pullback/retracement towards 1.4100 level before rallying further up towards 1.4600. It is therefore recommended to remain short for now. First low, then higher up from here on.
Trading recommendations:
Remain short, stop is at 1.4300, and target is at 1.4100.
Good Luck!
The material has been provided by InstaForex Company - www.instaforex.com
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