FX.co ★ Technical analysis of GBP/CHF for July 03, 2015

Technical outlook and chart setups:

The GBP/CHF pair was pushed through 1.4835 yesterday. taking stops out and reversing sharply lower. The pair is seen to be trading around 1.4710/15 at the moment. As we discussed earlier, the pair has potential to rally higher through at least 1.5000, but it needs to produce a meaningful retracement before resuming its rally. It is recommended to remain flat for now and wait for a confirmed trading setup before committing trades. Immediate support is seen at 1.4500 followed by 1.4400, 1.4250, and lower. Resistance is seen at 1.4830 and higher.

Trading recommendations:

Remain flat for now.

Good luck!