Technical outlook and chart setups:
The GBP/CHF pair has been drifting sideways after reaching lows at the levels around 1.4600 as depicted on the H4 chart. An intermediary support trend line seems to be broken, but prices managed to find support at a fibonacci convergence (shown with a horizontal arrow), around 1.4600. It is recommended to remain long for now with risk at 1.4450. Immediate support is seen at 1.4600 followed by 1.4450/60 and lower, while resistance is seen at 1.4900 (interim) followed by 1.5050 and higher.
Trading recommendations:
Remain long for now, stop is at 1.4450, a target is open.
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 September 02, 2015 . Thanks for your support.
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