Technical outlook and chart setups:
1.The GBP/CHF pair is seen to be bouncing off the 1.5150 levels after producing a morning star candlestick pattern yesterday as seen here. A more convincing level to initiate long positions would be around 1.5080 levels though.
2. Support is seen at 1.4950, followed by 1.4780, 1.4650, 1.4550 and lower while resistance is seen at 1.5300 respectively.
3. The structure indicates that GBP/CHF could remain in control of bulls till 1.4950 remains intact.
Trading recommendations:
Buying on dips is recommended.
Good luck!
