Technical outlook and chart setups:
The GBP/CHF pair has reached fresh lows today and is currently trading around the levels of 1.4840/50. According to the wave structure, a drop from 1.5570 still seems to be corrective. It can be completed at both 1.4850 or 1.4800. It is therefore recommended to remain long looking for an opportunity to add positions around the level of 1.4800 if reached with risk around 1.4700. Immediate support is seen at the level of 1.4700, while resistance is seen at 1.5150 followed by 1.5320 and higher respectively.
Trading recommendations:
Remain long, add further around 1.4800, stop is at 1.4700, a target is open.
Good luck!
