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    Technical analysis of GBP/CHF for February 08, 2015. 2016-02-08


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    Technical outlook and chart setups:

    The GBP/CHF pair has reversed sharply after printing intraday lows of 1.4300 on Friday. The pair is trading around 1.4430 now looking for an opportunity to push higher towards 1.5000 and higher. Bulls are expected to remain in control until prices remain above interim lows of 1.4300. Please also note that the pair has been holding the Fibonacci 0.618 levels at 1.4350 until now. A drop from 1.4750/60 seems to be corrective and complete now, and the pair should resume its rally. It is recommended to remain long again with risk below 1.4300. Immediate support is seen at 1.4300 (interim), while resistance is seen at 1.4500.

    Trading recommendations:

    Remain long now with stop below 1.4300, a target is at 1.5000

    Good luck!


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