Technical outlook and chart setups:
The GBP/CHF dropped lower towards 1.5050 levels before pulling back. Please note that the pair is well supported by fibonacci 0.618 support here and a bullish turn remains high probability. It is recommended to remain long with risk below 1.5000 and also look to add further longs here. Immediate support is seen at 1.4950 and lower while resistance is seen at 1.5200/50, followed by 1.5350/60 (interim), followed by 1.5450 and higher respectively. Bulls could regain control at current levels and till prices remain above 1.4950 levels.
Trading recommendations:
Remain long, stop below 1.5, the target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/CHF for December 16, 2014 . Thanks for your support.
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