Technical analysis of GBP/CHF for July 16, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is trading around 1.4890 at the moment after getting above 1.4900 leves earlier today. The pair still has potential to cross the level of 1.5000 before producing a meaningful pullback. It is recommended to book some profits now and look for intraday dips to enter again. Immediate support is seen at 1.4750 followed by 1.4680, 1.4630, 1.4500 and lower, while resistance is seen at 1.4900 followed by 1.5000 and higher respectively. Please note that if the pair needs to form a double top, the reversal from current levels would be sharp and fast.

Trading recommendations:

Book some profits on long positions, move stop to break levels, a target is open.

Good luck!

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