Technical outlook and chart setups:
The GBP/CHF pair is seen to be stalling around the levels of 1.4300/4400 for now. It needs to be pushed through the level of 1.4400 to instil further confidence in the bullish setups: Immediate support is seen at 1.4000 followed by 1.3850 and lower while resistance is seen at 1.4630 followed by 1.4800, 1.5150, and higher respectively. It is recommended to remain long with risk below 1.4200 for now. Bulls are expected to remain in control untill prices stay above 1.4200 from here on. A drop lower would expose 1.4000 at least.
Remain long stop below 1.4200, target is open.
The material has been provided by InstaForex Company – www.instaforex.com