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    Technical analysis of GBP/CHF for May 22, 2015




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    Technical outlook and chart setups:

    The GBP/CHF pair has broken above resistance at 1.4600 and bulls are targeting 1.4700/10 for now. The pair would then turn into bullish zone and buying on dips would be recommended. It is safe to remain flat for now and let the resistance at 1.4700/10 be taken out before planning aggressive short positions. Immediate support is seen at 1.4600 (resistance turned support) followed by 1.4500, 1.4350, and lower. Resistance is seen at 1.4700 and higher respectively.

    Trading recommendations:



    Remain flat for now.

    Good luck!



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