FX.co ★ Technical analysis of GBP/CHF for March 07, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair is again testing 1.4700 levels. It is recommended to remain long for now, risk remains at 1.4600 levels. A successful test of lows here would confirm that the next leg is higher up.

2. Immediate resistance is at 1.4950/60 (intermediary), followed by 1.5120/30, while supports are spread through 1.47/1.46 region, followed by 1.4550, 1.4350 and lower respectively.

3. The structure indicates that till prices are above 1.46/1.47 region, bulls shall regain control back and drag prices higher towards 1.5120/30.

Trading recommendations:

Remain long for now, stop is at 1.4600, target is open.

Good luck!