Technical outlook and chart setups:
The GBP/CHF pair dropped through the levels of 1.4700 just below the trend-line support as seen here. Please note that the fibonacci 0.786 support is seen in the area where prices have stalled. A break below 1.4700 would target 1.4600 and lower subsequently. It is recommended to remain long for now with risk at 1.4600. Immediate support is seen at the levels of 1.4600 followed by 1.4450 and lower, while resistance is seen at the levels of 1.4950 followed by 1.5100, 1.5350, and higher. Bulls could possibly regain control until prices stay above 1.4600.
Trading recommendations :
Remain long with stop set at 1.4600, 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 29, 2015 . Thanks for your support.
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