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    Technical analysis of GBP/CHF for October 21 2015


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    Technical outlook and chart setups:

    The GBP/CHF might be looking to rally through initial resistance seen at 1.4900/30. The pair has reached an intraday high of 1.4850 at the moment, before pulling back lower. A break through 1.4930 would bring bulls back in control. It is recommended to remain short now with risk at the levels of 1.4950. Immediate support is seen at 1.4700 followed by 1.4630, 1.4550, and lower, while resistance is seen at 1.4930 followed by 1.5100, 1.5350, and higher respectively. Bears are expected to pull down until at least 1.4400, while 1.4930 remains intact.

    Trading recommendations:

    Remain short with stop at 1.4950, a target is open.

    Good luck!


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