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Technical analysis of GBP/CHF for August 12, 2015

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Technical outlook and chart setups:

The GBP/CHF pair is seen to be trading around 1.5397 levels after printing highs at 1.5412/15, against our expectations for a short correction. The pair is setting up to extend its uptrend from current levels, and seems that bulls shall remain in control till prices stay broadly above 1.5150 levels for now. It is hence recommended to buy on dips around 1.5250 levels from here on. Immediate support is seen at 1.5250 levels, followed by 1.5150, 1.5050, 1.4950 and lower, while resistance is seen at 1.5420 levels and higher respectively.

Trading recommendations:

Look to buy on dips towards 1.5250 levels.

Good luck!

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