Technical outlook and chart setups:
The GBP/CHF pair has almost taken out initial resistance at the 1.5120 levels as expected and discussed earlier. The pair has also broken out of the interim resistance trend line as seen here, which would provide support on a retracement. The pair can now produce a meaningful retracement towards at least 1.4800 in the coming sessions. It is hence recommended to remain flat for now and look to buy at lower levels. Immediate support is seen at the 1.4920 levels, followed by 1.4750 and lower, while resistance is seen at the 1.5120 levels, followed by 1.5350, 1,5400/10 and higher.
Remain flat for now and look to buy lower.
The material has been provided by InstaForex Company – www.instaforex.com