FX.co ★ Technical analysis of GBP/CHF for April 23, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair seems to be in its last leg of rally that begun from sub 1.4450 levels. Implications are that the pair may reverse/retrace from current levels (1.4900/1.4880) or from 1.4960. As seen here, the 1.4600/50 levels remain of particular interest to initiate long positions again.

2. Support starts from 1.4630/40 (intermediary), followed by 1.4450/1.4350, 1.4200 and lower while resistance is at 1.4950/60, followed by 1.5120 respectively.

3. The structure indicates that GBP/CHF would remain a buy on dips till prices stay above 1.4450/1.4500 levels.

Trading recommendations:

Look to buy lower around 1.4600 on a pullback and bullish bounce.

Good luck!