Technical outlook and chart setups:
The GBP/CHF pair maybe looking to hold its intermediary lows at 1.5280 levels and look to rally further higher towards 1.5620 levels. It is recommended to initiate 50% long positions at current levels, risk below 1.5250 for now. Please note that prices have seen support at the fibonacci 0.382, of the entire rally between 1.5000 and 1.5525 levels. A bullish bounce here would easily push through higher levels before producing a meaningful pullback. Also please note that a break below 1.5250 could bring back GBP/CHF into the 1.5200 levels before rallying further.
Trading recommendations:
Initiate 50% long positions, stop below 1.5250, target 1.5620.
Good luck!
