Technical Outlook:
By far we can see no significant changes. The disability to break though 1.4620-30 levels for the third day in a row gives further confidence to our previous trade recommendations. Sooner than expected, bears are set to breakdown below 1.42. Strong resistance is clearly defined at 1.4790 levels. Watch out for a breakdown!
Chart Setup and Trade Recommendations:
We still have our bearish count foe GBP/CHF till the time prices are below 1.4790 levels. Please remember, the more time prices remain sideways, the stronger the breakouts are! Bearish implications have started to appear on small timeframes; hence we recommend to remain short.
Trade Recommendations: Issued on April 04
Sell at 1.4520/40, Stop at 1.4790, Target 1 at 1.3950 and Target 2 at 1.3790.
