29.01.201603:48 Forex Analysis & Reviews: Technical analysis of GBP/CHF for January 29, 2016

Long-term review

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Technical outlook and chart setups:

The GBP/CHF pair is trading around the level of 1.4550/60 at the moment looking for an opportunity to drop lower towards 1.4300/30 before resuming its rally. The pair is attempting to complete the final leg of the corrective drop from 1.4645. It would complete a counter trend wave structure around the level of 1.4300. It is hence recommended to remain short now and add positions with risk at 1.4650. Immediate support is seen at the levels of 1.4475/50, while resistance is seen at 1.4640/50. Bears are expected to remain in control until prices stay below 1.4645.

Trading recommendations:

Remain short now with stop at 1.4650, a target is at 1.4300

Good luck!

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