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Technical analysis of GBP/CHF for November 03, 2015

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Technical outlook and chart setups:

The GBP/CHF pair has produced a star doji candlestick pattern after printing highs around 1.5300 levels yesterday. It indicated a potential reversal at least in a corrective manner through the 1.4800/1.4900 levels. Please also note that the pair would be well supported around the resistance turned support trend line as depicted here. It is therefore recommended to remain flat for now and look to initiate long positions at lower levels. Immediate support is seen at 1.5100 levels, followed by 1.5000, 1.4950 and lower, while resistance is seen at 1.5350 levels, followed by 1.5400/10 and higher respectively.

Trading recommendations:

Remain flat for now and look to enter around 1.48/1.49 levels.

Good luck!

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