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    Technical analysis of GBP/CHF for February 15, 2016 2016-02-15

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    Technical outlook and chart setups:

    The GBP/CHF pair is trading around the level of 1.4233 now, looking for an opportunity to drop lower in a corrective manner before resuming its rally. Please note that the pair might hit an interim high of 1.4266 and looking for an opportunity to retrace lower to the level of 1.4050 before pushing higher again. It is hence recommended to initiate short positions with risk around 1.4290. Immediate interim resistance is seen at 1.4266, while support is seen at 1.3924. The pair had dropped lower towards 1.3921 earlier and bulls should remain poised to remain in control until prices stay above those levels.

    Trading recommendations:

    Remain short, stop is at 1.4290, a target is at 1.4050. Then plan to turn long again.

    Good luck!

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