Technical outlook and chart setups:
1. The GBP/CHF is trading around 1.5085/86 levels at the moment, after dropping to 1.5062 yesterday. The pair is expected to resume reversal from current levels, and minimum expected extension is towards 1.4700. Recommendations are to remain short and also look to add further, risk remains above recent highs at 1.5140.
2. Support is seen at 1.4900, followed by 1.4780, 1.4650, 1.4550 and lower, while resistance is seen at 1.5140 respectively.
3. The structure indicates that GBP/CHF pair is testing intraday resistance around 1.5080/90 at the moment. It is expected to resume downswing soon.
Trading recommendations:
Remain short and also look to add, stop at 1.5150, target is 1.4700.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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