Technical outlook and chart setups:
The GBP/CHF pair retested the fibonacci 0.618 resistance at 1.5100. Now it is pulling back lower. A push through 1.5100 could test 1.5240/50 on the higher side, which is the fibonacci 0.786 resistance. It is recommended to remain short with risk at 1.5400. Immediate support is seen at 1.4900 followed by 1.4700/50, 1.4600, and lower while resistance is seen at 1.5100 (interim) followed by 1.5350, 1.5400/10, and higher respectively. Bears should remain in control until prices are below 1.5400 from here on.
Trading recommendations:
Remain short, stop is at 1.5400,a target is open.
Good luck!
