Technical outlook and chart setups:
The GBP/CHF pair hit another low of 1.4817 yesterday before pulling back sharply through the level of 1.4950. It seems that the pair has formed a base right at the trend line passing the level of 1.3800 according to the daily setups. It should be now poised to extend to 1.5000 immediately before producing any meaningful retracement. It is therefore recommended to remain long with risk at the level of 1.4700. Immediate support is seen at 1.4800 (interim) followed by 1.4750 and lower, while resistance is seen at 1.5030.
Trading recommendations:
Remain long with stop at 1.4700, 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 December 15, 2015 . Thanks for your support.
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