Technical outlook and chart setups:
The GBP/CHF takes our stops out by pushing through 1.4740 levels. Please note that the pair has hit fibonacci 0.786 resistance of the drop between 1.5550 to 1.1800 levels earlier. A bearish reaction would again indicate that the rally is fizzing out. It is recommended to remain flat for now and wait for bearish reaction. Immediate resistance is seen at 1.4740 (interim), followed by 1.5550, while support is seen as 1.4400, followed by 1.4270 respectively. High probability still remains for bears to regain control.
Trading recommendations:
Remain flat for now.
Good luck!
