FX.co ★ GbpChf Hits Resistance Near 1.4980 Level

Technical Outlook and Chart Setups:

As depicted here, the single currency pair seems to be facing stiff resistance near the 1.4980 level. As pointed out, a tweezer top trade signal has appeared, hinting a reversal possibility. It is recommended to exit long positions for now and plan to go short on intraday rallies towards the 1.4950 mark instead. Immediate resistance should be near 1.4980, followed by 1.5050/60 and 1.5150/60 levels while support is around the 1.4800 region followed by 1.4700 and 1.4600 respectively. Exit long positions and plan to go short for now.

Trading Recommendations:

Exit long positions taken earlier. Sell rallies towards 1.4950. Stop is at 1.5100. Target is open.

Good Luck!