Technical outlook and chart setups
1. The GBP/CHF pair reversed from 1.5120 levels last week, remaining just shy of 1.5130/40 resistance. Minimum implications are that the pair could fall towards 1.4700/20 levels. Intraday rallies should remain well capped below 1.5130/40 levels from here on.
2. Support is seen at 1.4900, followed by 1.4780, 1.4650 and lower, while resistance is seen at 1.5140 levels respectively.
3. The structure indicates that GBP/CHF still remains fairly in control of bears till prices remain below 1.5130 levels. 1.4700 levels would remain of interest.
Trading recommendations:
Remain short, stop at 1.5140/50, target is open.
Good luck!
