Technical analysis of GBP/CHF for October 14, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair dropped to the 1.4550 levels before pulling back sharply. The pair is testing the 1.4700 level for now with interim resistance seen at the 1.4800 levels. A push through the 1.4800 level would confirm that a bottom is in place and that the pair is heading north. It is hence recommended to remain flat for now and watch out for reaction at 1.4800 or 1.4430. Immediate support is seen at the 1.4450 levels followed by 1.4200 and lower, while resistance is seen at the 1.4800 levels (interim) followed by 1.4900, 1.5100 and higher.

Trading recommendations:

Remain flat for now.

Good luck!

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