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    Technical analysis of GBP/CHF for November 02, 2015


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    Technical outlook and chart setups:

    The GBP/CHF pair has made yet another high at 1.5250 levels, taking out stops at 1.5230 levels on the short positions. The pair seems to be overdue for a correction lower, but not yet materialized. Please note that the next major resistance is seen at 1.5350 levels and the pair could be targeting the same before producing a meaningful correction. It is therefore recommended to remain flat for now and wait for a correction lower to initiate fresh long positions. Immediate support is seen at 1.5100 levels, followed by 1.5000, 1.4950 and lower, while resistance is seen at 1.5350 levels, followed by 1.5400/10 and higher respectively.

    Trading recommendations:

    Remain flat for now.

    Good luck!


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