The GBP/CHF pair rose through the levels of 1.4730/50 and also taken out the initial interim resistance at 1.4725 now. The pair might complete retracement at fibonacci 0.50 levels around the level of 1.4460 and has resumed its rally towards fresh swing highs. Any pullbacks from the current levels should be well supported around the levels 1.4500/25. It is hence recommended to remain flat for now and look for an opportunity to make a pullback towards 1.4500. Immediate support is seen at 1.4475 (interim) followed by 1.4400, 1.4250, and lower while resistance is seen at 1.4830 respectively.
Trading Recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
The GBP/CHF pair rose through the levels of 1.4730/50 and also taken out the initial interim resistance at 1.4725 now. The pair might complete retracement at fibonacci 0.50 levels around the level of 1.4460 and has resumed its rally towards fresh swing highs. Any pullbacks from the current levels should be well supported around the levels 1.4500/25. It is hence recommended to remain flat for now and look for an opportunity to make a pullback towards 1.4500. Immediate support is seen at 1.4475 (interim) followed by 1.4400, 1.4250, and lower while resistance is seen at 1.4830 respectively.
Trading Recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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