Technical analysis of GBP/CHF for January 13, 2016 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair seems to have formed intermediary low at 1.4350 levels for now. But the pair really needs to push above 1.4825 resistance levels to confirm that bulls are back and poised to remain in control in the short term. The pair is trading around 1.4523 levels for now, after bouncing off the fibonacci 0.786 levels of the rally between 1.4350 and 1.4575 levels respectively. The pair should be looking to push prices towards at least 1.4700/30 levels if not higher. It is hence recommended to remain long from yesterday and move risk to break even levels for now. Immediate support is seen at 1.4375 levels while resistance is seen through1.4650 levels, followed by 1.4825 and higher respectively.

Trading recommendations:

Remain long from yesterday, stop at break even levels, a target 1.4730.

Good luck!

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