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Technical analysis of GBP/CHF for November 05, 2015


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Technical outlook and chart setups:

The GBP/CHF pair has remained unchanged from yesterday and is trading around 1.5280 levels. Please note that the pair could still push through 1.5350 levels, before producing any meaningful retracement lower. It reached 1.5320 (yesterday's high), which is expected to push the pair lower towards 1.4850/1.4950 levels. It is hence recommended to remain short since yesterday and also look to add further around 1.5350 levels if prices manage to reach there. Immediate support is seen at 1.5150 levels, followed by 1.5000 and lower, while resistance is seen through 1.5320 levels (interim), followed by 1.5350, 1.5400/10 and higher respectively.

Trading recommendations:

Remain short for now, stop at 1.5450, a target 1.4900/1.4850.

Good luck!



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