Technical outlook and chart setups:
1. The GBP/CHF pair finally reversing just from 1.5050/60 levels as seen here. Recommendations are to initiate short positions or remain short from earlier, risk remains at 1.5120. The pair is expected to retrace down towards 1.4700 at least if not below.
2. Support is seen at 1.4900, followed by 1.4780, 1.4630, 1.4550, 1.4450 and lower,while resistance remains at 1.5120 levels.
3. The structure indicates that GBP/CHF has begun retracement towards 1.4680 levels from here on. That would be the next potential entry point to go long.
Trade recommendations:
Go short, stop at 1.5100/20, target is at 1.4700.
Good luck!
