FX.co ★ Technical analysis of GBP/CHF for July 29, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair is testing resistance zone around 1.5350/1.5375 as seen here, before giving in to bears. The pair is expected to correct lower towards 1.5200/30 levels, till the prices remain below 1.5430. Recommendations are to remain short. Risk is likely to be above 1.5430/50.

2. Support is seen at 1.5309 (interim), followed by 1.5200/10, 1.5130/50 while resistance is seen at 1.5430/50 respectively.

3. The structure indicates that GBP/CHF should continue drifting lower till the prices are below 1.5430/50.

Trading recommendations:

Remain short, stop above 1.5450, target is open.

Good luck!