Technical outlook and chart setups:
The GBP/CHF pair is trading at sub 147.00 levels for now and is about to break below the immediate support trend line as depicted on the 4H chart view here. The pair has earlier reversed from 1.4795 levels, just shy of our stops at 1.4830 levels. It is recommended to remain short for now, with risk at 1.4830 levels. Immediate support is seen at 1.4580 levels, followed by 1.4400/10 and lower while resistance is seen at 1.4800 (interim), 1.5100 and higher respectively. Bears could resume a deeper correction if 1.4580 levels break.
Trading recommendations:
Remain short for now, stop at 1.4830, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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