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    Technical analysis of GBP/CHF for February 09, 2016 2016-02-09

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    Technical outlook and chart setups:

    The GBP/CHF pair may be looking to form another low below 1.4100 before producing a meaningful correction. The pair is trading around 1.4170/75 now looking for an opportunity to reach another low around 1.3900 before pulling back higher. It is hence recommended to remain flat and wait for further confirmation of a clear bullish reversal. Bears might take out support at 1.3820. Only the reversal before recent swing lows at 1.4100 would confirm that the pair is headed towards 1.5000. Immediate interim support is found at 1.4100, while resistance is seen at the levels of 1.4450.

    Trading recommendations:

    Stay flat now.

    Good luck!

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