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    Technical analysis of GBP/CHF for May 21, 2015

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    Technical outlook and chart setups:

    The GBP/CHF pair tested the resistance at 1.4600 for the third time yesterday before pulling back lower. Please note that the pair remains on a decisive cross road where a break above 1.4600 would be extremely bullish while a break below 1.4350 would be extremely bearish. It is recommended to remain flat for a sideways setup and trade a break on either side. An aggressive trade setup would imply holing short positions with risk around 1.4600. Immediate support is seen at the level of 1.4350 while resistance is seen at the level of 1.4600.

    Trading recommendations:

    Trading recommendations:

    Remain short with stop at 1.4650 levels and a target is open.

    Good luck!

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