FX.co ★ Technical analysis of GBP/CHF for May 25, 2016

Technical outlook and chart setups:

The GBP/CHF pair is seen to be trading at 1.4485/90 levels at this moment as expected and discussed yesterday. Please note that the pair had made highs at 1.4540 level earlier and might be looking to retrace lower before attempting to push higher towards 1.4700 level. Please note that the wave structure indicates that a minimum drop towards 1.4300 level is still possible before pushing higher. It is hence recommended to book profits on long positions taken earlier and wait for a dip to go long again. Immediate support is seen at 1.4300 level, while resistance is at 1.4700 level respectively.

Trading recommendations:

Book profits on long positions now and remain flat.

Good luck!