Technical outlook and chart setups:
1. The GBP/CHF pair has stopped us out at 1.47. At the moment prices are testing the line of resistance at 1.4740/50. A break here, would further push prices towards 1.4850/60 and higher. It is better to watch out for the reaction here before committing a direction position.
2. The immediate resistance is at 1.4850/60, followed by 1.4950/60 and 1.5120/30 while supports are at 1.4350, followed by 1.42 and lower respectively.
3. The structure reveals that bulls are gaining control back and a clear break of the resistance line at 1,4750 levels would confirm that bulls shall remain in control.
Trading recommendations.
Flat for now.
Good luck!
