FX.co ★ Technical analysis of GBP/CHF for Aug 22, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair is trading at 1.5120 levels for now and it is expected to rally at least towards the 1.5250 levels, if not higher. The pair could form a lower top below 1.5350 and turn lower again.

2. Support is seen at 1,4950, followed by 1.4760/70 and lower, while resistance is seen at 1.5350, followed by 1.5450 respectively.

3. The structure indicates that GBP/CHF should rally in a corrective mode towards 1.5250 levels at least.

Trading recommendations:

Remain long, stop below 1.5050, target 1.5250.

Good luck!