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    Technical analysis of GBP/CHF for November 26, 2015

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    Technical outlook and chart setups:

    The GBP/CHF pair is seen to be trading around 1.5460/70 level for now and facing minor resistance here. It is quite possible that the pair may retrace lower from current levels before resuming a rally. It is hence recommended to take profits on the long positions from yesterday and remain flat. Immediate support is seen through 1.5300 levels, followed by 1.5200 and lower while resistance is seen at 1.5570 and higher respectively. A drop below 1.5300 levels would confirm that the pair is due for a deeper correction lower. The hourly charts are showing tat the pair is due for a correction at least.

    Trading recommendations:

    Take profits on long positions. Remain flat.

    Good luck!

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