Technical outlook and chart setups:
The GBP/CHF pair has dropped to 1.4100 levels and pulled back forming an engulfing bullish candlestick pattern. It indicates that short-term rallies can be expected from here towards at least 1.4300/1.4450 levels before the pair could turn back lower again. It is recommended to stay flat for a while and look to sell rallies into 1.4450 levels. Immediate support is seen at 1.4100 (interim), while resistance is seen at 1.4300/1,4450, 1.4700 and higher respectively. Bulls could be poised to take control at least to 1.4400/50 levels from here.
Trading recommendations:
Remain flat for now. Look to sell higher again.
Good luck!
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/CHF for May 04, 2015 . Thanks for your support.
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