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    Technical analysis of GBP/CHF for October 02, 2015

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    Technical outlook and chart setups:

    The GBP/CHF pair is still testing a back side of the trend line (which is resistance now), around the levels of 1.4850. Also note that its 50-day moving average resistance is also being tested. A bearish signal here would indicate a drop below 1.4600. It is hence recommended to exit long positions and remain flat for now. Immediate support is seen at 1.4600 and lower, while resistance is seen at 1.4900 followed by 1.5100, 1.5350, 1.5400/10, and higher. A push above 1.4900 would enable further confidence in a bullish set-up.

    Trading recommendations :

    Exit long positions and remain flat.

    Good luck!

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