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06.06.201405:33 Forex Analysis & Reviews: Technical analysis of GBP/CHF for June 06, 2014

Long-term review

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Technical outlook and chart setups:

1. GBP/CHF pair has tested recent highs again yesterday at 1.5133 levels before giving into bears, as seen here. The pair is headed south, and any intraday pullbacks should remain well capped below 1.5133 levels. Recommendations are to remain short, risk remains at 1.5140.

2. Support is at 1.4900, followed by 1.4780, 1.4650, 1.4550 and lower, while resistance is at 1.5140 respectively.

3. The structure indicates that GBP/CHF may have set itself for a larger correction. Minimum expectations are towards 1.4700 levels.

Trading recommendations:

Remain short, stop at 1.5140/50, target is open for now.

Good luck!

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