Technical outlook and chart setups:
The GBP/CHF pair continues trading within the broader range between 1.4600 and 1.4900. The pair can break below the 1.4600 levels, but the risk/reward ratio to initiate short positions now is not good. It is recommended to exit long positions and remain flat for now, looking to initiate short positions at higher levels. Immediate resistance is seen at the 1,4900 levels (interim) followed by 1.5100 and higher, while support is seen at 1.4600 levels followed by 1.4500 and lower. The pair needs to break out of the confined trading range to enable taking positions.
Trading recommendations:
Remain flat for now.
Good luck!
