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    Technical analysis of GBP/CHF for May 19, 2015

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    Technical outlook and chart setups:

    The GBP/CHF pair is trading around the levels of 1.4500/10, just below the trend-line resistance as seen here. The pair is also drifting sideways in a decreasing resistance constant support form. It tends to break on the south side and a break below 1.4350/60 would accelerate further downfall. It is hence recommended to remain short with risk at 1.4630/50 now. Immediate support is seen at 1.4350 levels followed by 1.4150, 1.4000, and lower while resistance is seen at 1.4550 followed by 1.4600, 1.4700, and higher respectively.

    Trading recommendations:

    Remain short for now, stop at 1.4630/50, a target is open.

    Good luck!

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