Technical outlook and chart setups:
The GBP/CHF pair might hit a higher low around 1.4650/60 last week. The pair completed an interim trade cycle at 1.4930 before retracing lower. It is bouncing back higher again at the moment with bullish momentum expected to continue until at least 1.5000 if not higher. It is recommended to remain long and watch for an opportunity to add here with risk at the levels of 1.4600. Immediate support is seen at 1.4650/60 followed by 1.4600 and lower, while resistance is seen at 1.5100 (interim) followed by 1.5350, 1.5400/10, and higher.
Trading recommendations:
Remain long for now with, stop 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 October 08, 2015 . Thanks for your support.
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