23.12.201514:46 Forex Analysis & Reviews: Technical analysis of GBP/CHF for December 23, 2015

Long-term review

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Technical outlook and chart setups:

The GBP/CHF pair had dropped lower towards 1.4600 levels yesterday taking out stops out at 1.4700. The pair has bounced back sharply just ahead of 1.4520 support levels, and has rallied all the way towards 1.4750 levels at the moment. The daily chart is producing an engulfing bullish candlestick pattern and the pair should be looking to rally through at least 1.4900 levels, which is trend line resistance. It is recommended to remain flat for now and wait for further evidence before committing on the long side. Immediate support is seen at 1.4520 levels while resistance is seen at 1.4900 levels respectively.

Trading recommendations:

Remain flat for now.

Good luck!

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