Technical analysis of GBP/CHF for January 12, 2016 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair has retraced to Fibonacci 0.618 support of the entire rally between 1.4350 and 1.4580 levels, at 1.4415/25 levels at the moment. The pair is looking to push higher through at least 1.4750 levels, if not lower. The potential remains for a rally to 1.4950 current levels as well from. The pair is seen to be trading around 1.4430 levels, looking to form a bullish reversal candlestick signal in smaller time frames. It is hence recommended to remain long and also look to add further positions with risk at 1.4300 levels. Immediate support is seen at 1.4350 levels, while resistance is seen at 1.4650 levels and higher.

Trading recommendations:

Remain long, stop is at 1.4300, target is 1.4750.

Good luck!

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