Technical outlook and chart setups:
The GBP/CHF pair is stalling in a range for now. Support of the range is 1.5300 and resistance is around the 1.5450 mark. The pair needs to break out of the above boundary to accelerate moves on either side. It is still recommended to remain short with risk above 1.5550. The pair could accelerate downside on a break below 1.5300/1.5200 levels. Resistance is fixed at 1.5475 and 1.5550 while support is fixed at 1.5300, followed by 1.52/1.51, 1.4975 and lower respectively. On the other hand, a break above 1.5475 could break through fresh highs.
Remain short, stop above 1.5550, target is open.
The material has been provided by InstaForex Company – www.instaforex.com