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Technical analysis of GBP/CHF for December 02, 2015

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Technical outlook and chart setups:

The GBP/CHF pair is seen to be trading around the 1.5417 levels for now after printing highs at the 1.5550 levels earlier. The pair might be setting up for a deeper correction as depicted on the H4 chart view here. Bears should remain in control until prices stay below the 1.5550 levels broadly in the coming sessions. Prices could drop towards the 1.4900 levels as well, but a break below 1.5300 would confirm and accelerate the drop. It is recommended to remain flat for now and wait for further confirmation. Immediate support is seen at the 1.5300 levels, while resistance is seen at the 1.5550 levels.

Trading recommendations:

Remain flat for now.

Good luck!

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