23.06.201404:55 Forex Analysis & Reviews: Technical analysis of GBP/CHF for June 23, 2014

Long-term review

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Technical outlook and chart setups:

1. The GBP/CHF pair pulls back from the fibonacci 0.382 support levels as seen here. It is quite possible that the counter trend is still not complete and the pair might find support around the 1.5080/1.5100 levels, which is the fibonacci 0.618 support.

2. Support is at 1.4960 levels, followed by 1.4780, 1.4650, 1..4550, while resistance is at 1.5300 respectively.

3. The structure indicates that GBP/CHF pair could complete the counter trend around 1.5100 levels before resuming rally further up.

Trading recommendations:

Remain flat for now. Look to buy lower.

Good luck!

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