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    Technical analysis of GBP/CHF for February 22, 2016 2016-02-22

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    Technical outlook and chart setups:

    The GBP/CHF pair is seen to be trading at 1.4147/50 levels for now, after testing recent lows at 1.4050 levels. The pair may still remain in control of bulls till it stay broadly above 1.4040 levels. Please note that the pair has been holding fibonacci 0.618 levels intact till now around 1.4040/50 levels as well. It can be considered a test till now and a rally could still unfold, pushing prices higher towards 1.4450 and 1.4560 levels subsequently. It is hence recommended to remain long for now, with risk at 1.4000 levels. Immediate resistance is seen at 1.4300 levels while support is seen at 1.4040 levels interim, respectively.

    Trading recommendations:

    Remain long with stop at 1.4040, targets are 1.4560 and 1.4560.

    Good luck!

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