Technical outlook and chart setups:
The GBP/CHF pair made another attempt to break above the levels of 1.5100, but it failed. The pair has held above its 50-day moving average, and subsequently well above 1.4900 interim support. Bulls are expected to remain in control until prices stay above the levels of 1.4900. It is hence recommended to remain long now with risk at 1.4900. Immediate support is seen at 1.4900 followed by 1.4700, 1.4600, and lower, while resistance is seen at 1.5100 (interim) followed by 1.5350, 1.5400/10, and higher.
Remain long with stop at 1.4900, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com