Technical outlook and chart setups:
The GBP/CHF pair has hit the levels of 1.4199 today before pulling back sharply lower towards the levels of 1.4150 as seen here. A break below 1.4000 is required to confirm and to accelerate further downside. Aggressive trade setup would be to remain short for now with risk at 1.4230, while a conservative trade setup would be to enter short after prices break 1.4000. Immediate resistance is seen at the levels of 1.4200 (interim) followed by 1.4300 and higher, while support is seen at 1.4000 followed by 1.3850 and lower, respectively.
Remain short for now; stop is at 1.4230, target is open.
The material has been provided by InstaForex Company – www.instaforex.com