Technical analysis of GBP/CHF for January 15, 2016 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is trading around the levels of 1.4460/70 at the moment, but is broadly seen to be trading in a range for the last few trading sessions. Immediate support is seen at 1.4400, while resistance is seen at 1.4600 respectively. It looks more like rising support and constant resistance type consolidation in the pair, hence more probable breakout can take place on the north side. The pair can be either producing a counter-trend rally against the drop from 1.55 to 1.43, or a rally towards fresh highs. Hence, it is recommended to remain long with risk at 1.4350 now. Bulls can regain control until prices remain above 1.4350.

Trading recommendations:

Remain long for now, stop at 1.4350, target is open.

Good luck!

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