FX.co ★ Technical analysis of GBP/CHF for April 18, 2014

Technical outlook and chart setups:

1. The GBP/CHF looks to pullback from current levels of 1.4800/20 before rallying higher towards 1.4860/70 and 1.4950/60, respectively. The minimum expectations of expected pullbacks are around 1.4700/50 levels. Recommendations are to remain flat for now and enter again at those levels. Only a break below 1.4700 and 1.4650 could be a reason to worry for bulls.

2. Supports are seen at 1.4650 (intermediary) followed by 1.4450 (intermediary), 1.450, 1.4200 and lower, while resistance is at 1.4850/60 (intermediary) followed by 1.4960 and 1.5120, respectively.

3. The structure indicates that GBP/CHF could rally further towards 1.4950 levels but after a small pullback towards 1.4700/50. Till the time 1.4650/40 levels remain intact, bulls shall remain in control.

Trading recommendations:

Remain flat for now, look to buy lower ahead of 1.4650.

Good luck!