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    Technical analysis of GBP/CHF for February 23, 2016 2016-02-23


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    Technical outlook and chart setups:

    The GBP/CHF pair is trading lower at 1.4050 now, looking foe an opportunity to rally. Please note that GBP/CHF has completed a zigzag corrective wave 2 at 1.4000 before pulling back today. If the pair holds above 1.4000, bulls are expected to take control and push higher towards at least 1.4460 before producing a meaningful pullback. It is hence recommended to remain long from here (1.4050), with risk below 1.4000. Immediate interim support is seen at 1.4000 followed by 1.3920, while resistance is seen at 1.4150 and higher. Please note that a drop below 1.4000 would probably confirm a continued downtrend.

    Trading recommendations:

    Remain long again with stop at 1.3950, a target is 1.4460.

    Good luck!


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