Technical analysis of GBP/CHF for February 24, 2015
Technical outlook and chart setups:
The GBP/CHF pair fell to the levels of 1.4400 on Friday as it was estimated, but climbed back higher to the level of 1.4700 again yesterday. GBP/CHF pair remained timid of stops placed at the levels of 1.4730 and is supposed to be trading at the levels of 1.4660/70 for now.
The pair needs to break below 1.4400 to prove that a top is in place and produce a strong correction.
It is suggested to hold short positions with risk at the levels of 1.4730. On the other hand, a push above 1.4720 would be further bullish and would hit 1.5150. Next term support is seen at the levels of 1.4400/10, as resistance is seen at 1.5150, likewise.
Remain short, stop at 1.4730, target is open. Otherwise, wait for Support breaking
Best of Luck..