Technical outlook and chart setups:
The GBP/CHF pair might finally made a meaningful bottom at 1.4730 yesterday looking for an opportunity to rally towards 1.5050 and 1.5200. Please note that prices bounced from the Fibonacci 0.786 support of the entire rally between 1.4530 and 1.5570. It is hence recommended to remain long for now, with risk at 1.4700. Immediate support is now seen at the level of 1.4730 (interim) followed by 1.4550 and lower, while resistance is seen at 1.5000 followed by 1.5150 and higher. Bulls are poised to regain control until prices remain broadly above the level of 1.4730.
Trading recommendations:
Remain long for now, stop is at 1.4700, a target is open.
