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30.10.201408:46 Forex Analysis & Reviews: Technical analysis of GBP/CHF for October 30, 2014

Long-term review

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Technical outlook and chart setups:

The GBP/CHF dropped close to 1.5200 levels yesterday before pulling back higher. The pair is trading around 1.5300 levels at the moment and bears should resume down swing till prices are below 1.5340/50 levels. Support is seen just below 1.5200 levels, followed by 1.5100, 1.4975 and lower while resistance is seen at 1.5450, followed by 1.5550/5 respectively. It is recommended to remain short from last week, risk remains above 1.5450. The pair could drop below 1.4700 levels if 1.5350 and subsequently 1.5450 levels (resistances) hold good.

Trading recommendations:

Remain short, set stop above 1.5450, target is open.

Good luck!

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