FX.co ★ GBP/CHF breaks to fresh lows below 1.4100; 1.4350/60 is strong resistance now

Technical outlook and chart setups:

As depicted in the 4H, the currency pair broke down intermediary support at 1.4050/70 yesterday at the backdrop of huge sterling sell-off across the board. As shown here, immediate resistance is the 1.4350/60 levels, followed by 1.4500. Support comes in around the 1.38/1.39 levels. It should be noted that a weekly support at 1.4150 has been broken, and hence a pullback cannot be ruled out. It is always recommended to book partial profits around current levels. Looking lower till 1.4350 remains intact.

Trade recommendations:

Remain short, move risk to breakeven, target 1.4050, 1.39.

Good Luck!