11.12.201514:31 Forex Analysis & Reviews: Technical analysis of GBP/CHF for December 11, 2015

Long-term review

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Technical outlook and chart setups:

The wave structure for GBP/CHF still remains intact and poised to unfold into higher highs and higher lows in coming weeks. The pair still holds its Fibonacci 0.618 support around the level of 1.4930 looking for an opportunity to begin its 5-wave rally towards 1.6000 soon. Hence it is still recommended to hold the long positions taken earlier with risk at 1.4800. Immediate support is seen around 1.4800 followed by 1.4700 and lower, while resistance is seen at 1.5150 followed by 1.5320 and higher. Bulls should remain poised to take control from current levels.

Trading recommendations:

Now remain long with stop at 1.4800, a target is open.

Good luck!

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