Technical outlook and chart setups:
The GBP/CHF pair was pushed through 1.4835 yesterday. taking stops out and reversing sharply lower. The pair is seen to be trading around 1.4710/15 at the moment. As we discussed earlier, the pair has potential to rally higher through at least 1.5000, but it needs to produce a meaningful retracement before resuming its rally. It is recommended to remain flat for now and wait for a confirmed trading setup before committing trades. Immediate support is seen at 1.4500 followed by 1.4400, 1.4250, and lower. Resistance is seen at 1.4830 and higher.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/CHF for July 03, 2015 . Thanks for your support.
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