Technical analysis of GBP/CHF for July 30, 2014



Technical outlook and chart setups:

1. The GBP/CHF pair has remained virtually unchanged since last few trading sessions. The pair is stalling around 1.5360/70 mark for now having broken the immediate line of support, as seen here. Recommendations are to remain short, risk remains above 1.5430/50 levels.

2. Support is seen at 1.5220, followed by 1.5150 and lower while resistance is seen at 1.5380/90 (interim), followed by 1.5430/50 respectively.

3. The structure indicates that GBP/CHF should be correcting lower at least for now.

Trading recommendations:

Remain short, stop above 1.5450, target is open.

More analysis - at instaforex.com