FX.co ★ Technical analysis of GBP/CHF for July 04, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair bounced off the fibonacci 0.382 support levels and printed fresh highs around 1.5330 levels. Immediate upside is still seen around the 1.5410/20 mark as seen here; before the pair could produce a meaningful bounce.

2. Support is seen at 1.5140, followed by 1.4950, 1.4900, 1.4780 and lower, while resistance is seen at 1.5410/20 levels respectively.

3. The structure indicates that the GBP/CHF pair could still push higher towards 1.5410/20 levels.

Trading recommendations:

Remain flat for now. Buy on dips utill prices are above 1.5150.

Good luck!