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    Technical analysis of GBP/CHF for July 02, 2015

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    Technical outlook and chart setups:

    The GBP/CHF pair is trading around 1.4770 after testing resistance at 1.4800 levels yesterday. Please note that the pair has produced a bearish evening star candlestick pattern indicating a potential pullback lower. It seems that the first leg of a rally from the level of 1.4150 havebeen finished and a corrective drop towards 1.4400 should take place soon. It is recommended to remain short with risk at 1.4830. Immediate support is seen at 1.4500/50 followed by 1.4400 and lower. Resistance is seen at 1.4800 and higher respectively.

    Trading recommendations:

    Remain short for now, stop is at 1.4830, a target is 1.4400.

    Good luck!

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