FX.co ★ Technical analysis of GBP/CHF for May 20, 2015

Technical outlook and chart setups:

The GBP/CHF pair is seen to be testing its resistance around 1.4520 again as depicted here. The pair has made an attempt to break above 1.4600 twice but without success. It has been broadly confined between 1.4350 and 1.4550. It needs a break on either side to make a decision about further major movement. It is recommended to remain short for now with risk around 1.4650. Immediate support is seen at the levels of 1.4350/00 followed by 1.4150 and lower, while resistance is seen at 1.4600 followed by 1.4700 and higher respectively.

Trading recommendations:

Remain low, stop at 1.4650, a target is open.

Good luck!