Technical outlook and chart setups:
The currency pair is off the lows around the 1.4550 levels, and it is trading comfortably above 1.46 at the moment. It is recommended to remain long with positions taken yesterday. Lined up support levels are 1.4350, followed by 1.4200 and lower; while resistance levels are from 1.4780/1.4800 levels, followed by 1.4900 levels respectively. The wave structure reveals that the current counter trend rally should extend till at least 1.4800 levels and then reverse lower towards 1.4200 in the coming trading sessions. A more conservative trade strategy would be to initiate short positions at 1.4800 levels.
Trading recommendations:
Remain long, set stop at 1.4500
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via GBPCHF to rally towards 1.4800 . Thanks for your support on GBPCHF to rally towards 1.4800
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