Technical outlook and chart setups:
The GBP/CHF pair is seen to be trading at 1.4100/05 levels at this moment, after hitting intraday lows at 1.4057 levels respectively. Please note that the pair bounced off the trend line support as depicted here. Bulls are expected to remain in control till prices stay above 1.4030 levels. Also, the pair is expected to take out major resistance at 1.4290 levels before topping out and reversing lower again. The wave structure also reveals that the pair is in its last leg of the rally that begun from 1.3400 levels. It is recommended to remain long now, with risk at 1.4030 levels, targeting 1.4300. Immediate resistance is seen at 1.4300 levels, while support is at 1.4030 levels respectively.
Trading recommendations:
Remain long for now, stop is at 1.4030 levels, target is1.4300.
Good luck!
