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09.08.201310:34 Forex Analysis & Reviews: GBPCHF tests resistance at 1.4320/40 again.

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Technical outlook and chart setups:

The currency pair has raised towards the backside of the rising trendline again, which is resistance now. The resistance zone is around 1.4320/40 at the moment; followed by 1.44/45, 1.48 and 1.5 are on the higher side; while support is around 1.4. It is expected that the pair would reverse to the lower side from here, and hence it is recommended to remain short or initiate fresh short positions now against 1.44/45. On the alter side, a push higher towards 1.44/45 levels would negate bearish outlook further. Looking lower for now.

Trading recommendations:

Remain short, set stop above 1.44, target is open.

Good luck!

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