Technical outlook and chart setups:
The GBP/CHF pair has inched up higher to the 1.4000 handle today. The pair still has room to rally towards 1.4100 levels which is the Fibonacci 0.618 resistance, and a recommended exit levels for long positions are still held. The pair has been rallying steadily after breaking out of the consolidation above 1.3350/1.3400 levels earlier. Immediate support is seen at 1.3460 followed by 1.3350/1.3400 and lower while resistance is seen at 1.4100 levels and higher, respectively. Bulls should remain in control for now but 1.4100 could bring bears back again into action.
Trading recommendations:
Remain flat if you exited long positions yesterday. Exit all long positions ahead of 1.4100.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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