Technical outlook and chart setups:
1. The GBP/CHF pair has reversed from 1.5300 levels as seen here. The pair has produced a bearish reversal candle, indicating further downside from current levels. Minimum expectations are around the 1.5100 levels for now. Recommendations are to wait for a dip at least towards 1.5100 levels or aggressive trade setup is to go short, risk is above 1.5300.
2. Support is seen at 1.5100 (resistance turned support and fibonacci retracement), followed by 1.4950, 1.4780 and lower while resistance is at 1.5300 respectively.
3. The structure indicates that GBP/CHF bulls shall remain in control till 1.4950 remains intact.
Trading recommendations:
Remain flat. Buy around 1.5100 levels.
Good luck!
