Technical outlook and chart setups:
The GBP/CHF is seen to be trading at 1.4450/60 levels with immediate support now at 1.4400 levels. Bulls are likely to remain poised to rally past 1.4600 levels provided 1.44 remains intact. Importantly, the resistance trend line also has been broken, and prices has been in the buy zone so far. It is hence safe to initiate fresh long positions now, with risk at 1.44 levels. While immediate support is seen around 1.4400 levels followed by 1.4140/50 levels, resistance is seen at 1.4600 levels, followed by 1.4800 and higher respectively. The short term outlook remains bullish.
Trading recommendations:
Initiate long positions now, stop at 1.4400 target, or 1.4600 at least.
Good luck!
