Technical analysis of GBP/CHF for June 30, 2015

Technical outlook and chart setups:

The GBP/CHF pair is trading lower around the level of 1.4630 at the moment after having formed an intermediary top near 1.4800. Please note that the pair might be preparing for a deeper correction into 1.4400 as depicted here, before resuming its rally. It is hence recommended to remain short with risk above the level of 1.4800 now. Immediate support is seen at 1.4500 followed by 1.4400, 1.4250, and lower. Resistance is seen at 1.4800 levels (interim) and higher respectively.

Trading recommendations:

Remain short for now, stop is at 1.4830, a target is 1.4400.

Good luck!

The material has been provided by InstaForex Company –