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    Technical analysis of GBP/CHF for November 17, 2015

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    Technical outlook and chart setups:

    The GBP/CHF pair is setting up for an extended rally past the 1.5400/10 levels after having touched stops at the 1.5380 levels. Please note that the pair has rallied 1.45050 levels and should be poised lower for a retracement, before extending further, but it is better to buy on dips rather than taking short positions now. Any retracement should be corrective and should be treated accordingly. It is hence recommended to remain flat for now. Immediate support is seen at the 1.5260 levels, followed by 1.5200 and lower while interim resistance is seen at the 1.5410/20 levels.

    Trading recommendations:

    Remain flat for now.

    Good luck!

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