Technical outlook and chart setups:
1. The GBP/CHF pair is seen to be stalling ahead of resistance at 1.5120/30 levels. Please note that the pair had produced a bearish evening star candlestick signal earlier, hence indications are for downside for now till prices stay below 1.5130 levels. Recommendations are to remain short, risk remains at 1.5140/50.
2. Support is seen at 1.4900, followed by 1.4780, 1.4650, 1.4550 and lower while resistance is seen at 1.5120/30 respectively.
3. The structure indicates that GBP/CHF should retrace lower towards atleast 1.4700 levels before staging rally further ahead.
Trading recommendations:
Remain short for now, stop at 1.5120/30, target is open .
Good luck!
